BBG acquires Glaswerk
On January 14, 2021, founders Joshua, Nicolai and Kevin sold their e-commerce brand Glaswerk to Berlin Brands Group.
Glaswerk – a love of natural raw materials
Growing up in the Black Forest means, you are instilled to just the same extent with a love of nature and a love for detail. In their products, the founders use only natural materials such as glass, wood, and stainless steel. Joshua and Nicolai, two brothers, founded Glaswerk in April 2019 and were shortly after joined by their friend Kevin. They were not exactly happy with the jobs they held before and were brought together be the simple wish to get something going together instead. The first Glaswerk product was a glass carafe, the second a teapot with strainer. Things went well so quickly, that Glaswerk was in the black in no time. In the first year, the founders sold 3,000 products, partly via their own store, but mainly on Amazon. By 2020, they had sold more than 35,000 products. Sales rose from 40,000 to 800,000 euros.
Nicolai, why did you sell?
"We first came in touch with BBG in the summer of 2020. Back then, we declined their offer, because our growth potential was so extremely good. By the end of November, we had offers from several other companies. At that point, we realized, that further growth would cost real money and that it would be difficult for us to finance the next steps on our own. That is why we decided to sell after all. In terms of price negotiations BBG was one of two remaining top bidders. In the end, we decided in favor of them, because BBG could convince us that they were best poised to make the most of our brand."
Will you continue to accompany your glassworks with BBG?
"We remain on board for one year in an advisory capacity. During that time, we will help to develop new products, to improve USPs and expand the range. This makes good sense in the interest of the brand, but it also pays off for us: We benefit from an excellent earn-out arrangement. "
"We will continue in exactly the same constellation with a new idea. This time, we can start off with a sound funding which we lacked at Glaswerk. This will allow us to implement cool, new products with our next project."
Picture: Ⓒ Glaswerk