German Battery Maker Varta Faces Breakup as Lenders Seek to Spin Off Household Battery Business
German battery manufacturer Varta, a well-known traditional company based in Ellwangen, is facing a potential breakup as key lenders including Deutsche Bank and financial investors RBC BlueBay, Blantyre, and Whitebox seek to spin off its household battery business. The company, which employs around 3,260 people, reported a loss of €64.5 million on sales of €790 million in 2024. The move comes after Apple withdrew as a major customer for Varta's Nördlingen plant, which employs 350 people and is scheduled to close in autumn. Varta had previously undergone restructuring under Germany's Corporate Stabilization and Restructuring Act (StaRUG) in 2024. The lenders claim no commitments for additional financing have been received, despite an expression of interest from Swiss investor Allswiss. The remaining two business divisions (microbatteries and energy storage systems) could face insolvency if the spin-off proceeds. Industry experts note Varta has potential in sodium-ion battery technology but lacks necessary investment capital.
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