GEA sells its barn equipment and milk cooling technology businesses to Mutares SE & Co KGaA
Düsseldorf (Germany), November 04, 2020 - In line with its stated strategic portfolio optimization, GEA is divesting two companies that until now have been part of the Group's Farm Technologies division. The companies concerned are GEA Farm Technologies Japy SAS, a French manufacturer of milk cooling tanks based in Dijon, and Royal De Boer Stalinrichtingen B.V., a leading European supplier of various types of barn equipment based in Leeuwarden in the Netherlands. Combined, the two companies generated revenues of approximately EUR 50 million in 2019. The purchase agreement with Mutares SE & Co. KGaA, a stock listed private equity company, was signed today. Both parties have agreed not to disclose the financial details of the transaction which is subject to merger control approval. Closing of the transaction is expected in December 2020.
"We are pleased that Mutares SE & Co. KGaA will become the new owner of both companies, as Mutares is in a position to develop each company's business potential to the best possible extent," commented Stefan Klebert, CEO of GEA Group AG.
The sale will allow GEA's Farm Technologies division to focus on: automation and digitalization of milking installations and processes, smart solutions for herd management and on products that ensure milk quality, guarantee facility hygiene and improve cow health. Likewise, the division will continue to offer a wide range of manure handling products and systems, particularly for the North American market. GEA will retain access to the product portfolio of both divested companies to continue serving individual customer needs.
Corporate Media and Press:
Marc Pönitz
Peter-Müller-Str. 12, 40468 Düsseldorf
Phone +49 (0)211 9136-1500
About GEA
"Engineering for a better world" is the driving and energizing principle connecting GEA's total workforce of approximately 18,500 employees. As one of the largest systems suppliers, generating group revenues in the amount of 4.9 billion euros in 2019, GEA makes an important contribution to a sustainable future with its solutions and services, particularly in the food, beverage and pharmaceutical sectors. Across the globe, GEA's plants, processes and components contribute significantly to the reduction of CO2 emissions, plastic use as well as food waste in production. GEA is listed on the German MDAX and the STOXX(R) Europe 600 Index and also included in the DAX 50 ESG and MSCI Global Sustainability indexes. More information can be found online at .
About Mutares
Mutares SE & Co. KGaA, Munich (), acquires medium-sized companies and parts of groups with headquarter in Europe that are being sold in the course of a repositioning process at their owners and show a clear potential for operational improvement. Mutares actively supports and develops its portfolio companies with its own investment and consulting teams as well as through acquisitions of strategic add-ons. The aim is to achieve a clear value increase with a focus on sustainable, long-term growth of the portfolio company. In 2019, Mutares' portfolio companies generated consolidated revenues of EUR 1,016 million and employed more than 6,500 people worldwide. The shares of Mutares SE & Co. KGaA are listed on Frankfurt Stock Exchange under the ticker symbol "MUX" (ISIN: ).
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1081
Fax +49 (0)211 9136 31087
gea.com
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