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Keter Group

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Keter Group
IndustryResin consumer goods
Founded1948; 76 years ago (1948)
Headquarters
Herzliya
,
Israel
Key people
Alejandro Pena
(CEO)
ProductsOutdoor and Indoor resin-based consumer products
Number of employees
4,900
Websitewww.keter.com

Keter Group (Hebrew: קבוצת כתר), formerly Keter Plastic, is an Israeli manufacturer and marketer of resin-based household and garden consumer products, cabinets, outdoor entertainment products, and outdoor furniture. The company, established in 1948, has a chain of retail stores throughout Israel and operates 19 plants in Israel, Luxembourg, Europe, Canada and the United States. Keter products are marketed worldwide.

History

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The Keter brand evolved from a small workshop established in Jaffa in 1948, specializing in the production of resin combs, toys and housewares. In 1971, Joseph Sagol bought out his partners' shares in the workshop.[1] Sagol later handed the management of the company over to his sons, Sami and Itzhak.

Since 1978, Keter has expanded its home product lines to include garden sheds, toolboxes, bathroom cabinets, backyard playhouses for children, and more – all made of resin. In 1991, Keter acquired competitor L.M. Lipski.[1]

In 2004, Keter acquired Allibert Sanitaire.[2] In 2005, Keter acquired Curver Consumer Products Ltd, Corby, Northamptonshire, from Newell Rubbermaid.[3]

In June 2013, Keter was one of several companies subjected to a boycott by the United Church of Canada because it had a factory in the illegal West Bank settlement of Barkan.[4][5][6]

In 2016, the private equity firm BC Partners purchased 80% of Keter for 1.4 billion euros.[7] In 2016, Keter Group was valued at $1.7 billion.[8] In 2017, Keter purchased British plant pot company Stewart Plastics.[9] In 2021, Keter partnered with UBQ Materials to produce sustainable home and garden goods at scale.[10] Keter operates 29 plants across the world, due to this the company can produce many products in the same places it is selling them, limiting transportation costs and emissions.[11]

In September 2021, Keter Plastic announced plans for an IPO on the New York Stock Exchange and filed a draft prospectus with the US Securities and Exchange Commission. Among the underwriters for the offering are Goldman Sachs, Jefferies, JP Morgan, and Bank of America.[12]

Five of the company’s manufacturing plants that produced 18% of the company’s goods achieved zero landfill waste in 2022.[13]

Interior storefront
Keter outlet

Keter manufactures household and garden products, cabinets, and outdoor furniture, especially the monobloc chair.[14] It is one of Israel's largest manufacturers of resin-based outdoor and garden furniture.[15] The company has North America production plants in North Carolina, Indiana, Pittsburgh and in Milton, Ontario, Canada.[16]

In 2021, Keter partnered with UBQ Materials to increase the use of recycled content in their products to 55% by 2025.[17]

Keter’s outdoor furniture products include Adirondack chairs, sun loungers, benches, side tables, and rocking chairs. They also manufacture deck boxes, cabinets, and shelving units for indoor/outdoor storage.[18] The company also manufactures outdoor plastic sheds, cool bars, and kitchen carts. [19]

See also

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References

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  1. ^ a b The Israel economist, Volumes 45-47, 1991, p.40
  2. ^ "KETER PLASTICS: Takeover of Allibert completed / European market leader for plastic household goods". plasteurope.com. 5 February 2004. Retrieved 15 February 2024.
  3. ^ "Curver: Umzug nach Neu Isenburg". kunststoffweb.de (in German). 6 September 2005. Retrieved 15 February 2024. . Keter Plastics hatte zum Jahreswechsel 2004/2005 die europäische Kunststoff-Haushaltswaren-Sparte Curver Consumer Products Ltd, Corby, Northamptonshire / Großbritannien von Newell Rubbermaid Inc, Freeport, Illinois / USA gekauft.
  4. ^ "Canada's Largest Protestant Church Prepares To Boycott Israeli Companies". The Huffington Post. 30 May 2013. Retrieved 2016-10-24.
  5. ^ "United Church of Canada's Israeli boycott campaign an 'assault on the Jewish people,' Toronto group says". National Post. Retrieved 2016-10-24.
  6. ^ "KETER page on Presbyterian Mission Agency website" (PDF). Archived from the original on 2017-08-27.{{cite web}}: CS1 maint: bot: original URL status unknown (link)
  7. ^ שלו, שי (20 July 2016). "נסגרה העסקה: כתר פלסטיק תימכר ל-BC פרטנרס לפי שווי של 1.7 מיליארד דולר - גלובס". Globes. Retrieved 2016-10-24.
  8. ^ "Keter Group to be offered for sale". Globes. Retrieved 20 February 2024.
  9. ^ "Keter Group has bought British plant pot company Stewart Plastics". Hort Week. Retrieved 20 February 2024.
  10. ^ "Keter Group Partners with UBQ Materials to Produce Sustainable Home and Garden Goods at Scale S". PR Newswire. April 19, 2021. Retrieved September 17, 2021.
  11. ^ "Keter Group CEO Alejandro Pena on Sustainability and ESG". BossMag. Retrieved 29 February 2024.
  12. ^ "Keter Plastic files for NYSE IPO". Globes newspaper English website. 2021-09-19. Retrieved 2021-09-19.
  13. ^ "Keter Focuses on the Circular Economy with 100% Recyclable Products". Wayfair. Retrieved 29 February 2024.
  14. ^ "Israel's Keter CEO: "The transition from a family company to a foreign fund didn't flow, but we've made a dramatic change"". calcalist (in hebrew). 18 April 2021. Retrieved 18 April 2021.
  15. ^ Israel business, Issues 426-439, p.38
  16. ^ "Keter Plastics closing Rio Communities area plant". ABQ Journal. Retrieved 20 February 2024.
  17. ^ Martin, Noga (19 April 2021). "Going greener, Keter joins forces with alternative-plastic startup UBQ". Israel Hayom. Retrieved 25 November 2021.
  18. ^ "Keter Group Outdoor Furniture Enhances Late Summer and Fall Outdoor Gatherings". Venture Burn. Retrieved 28 February 2024.
  19. ^ "New plant for outdoor products in New Mexico / USD 36m investment". PlastEurope. Retrieved 28 February 2024.
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