GEA Group Aktiengesellschaft expands the share of food process technology in its portfolio. Acquiring the company Convenience Food Systems (CFS) from funds managed by AEA Investors, GEA has added to its group a multi-faceted supplier of secondary food processing and packaging machinery.
CFS, which is headquartered in Bakel, The Netherlands has some 2000 employees and expects a turnover of about EUR 400 Million in this financial year. The transaction remains subject to approval by the antitrust authorities and is expected to be concluded during the first half of 2011.
"This acquisition follows our strategy to expand the food process technology activities of GEA Group horizontally. We are taking our portfolio another step forward towards the less cyclical food industry. In doing so, we can leverage the brand value of GEA by offering our customers more solutions along their entire process chain from one single source.” says Jürg Oleas, CEO of GEA Group
"In the medium term, GEA sees potential to realise synergies with existing GEA businesses.“ adds Niels Graugaard, member of the executive board and COO of GEA.
"The market segment of animal proteins is one of the fastest growing within the entire food industry. As part of the GEA Group we will have the chance to develop new customers and find access to new markets".
GEA Group AG
GEA Group Aktiengesellschaft is one of the largest system providers for food and energy processes with about EUR 4.4 billion in 2009 revenue. As an internationally operating technology group, the company focuses on process technology and components for demanding production processes in various markets. The group gains about 70 percent of its revenue in the long-term growing food and energy industries. The company's workforce comprised over 20,000 employees worldwide as of September 30, 2010. GEA Group is a market and technology leader in its business areas. The company is listed in the MDAX index (G1A, WKN 660 200).
CFS lifecycle performance
CFS specializes in performance-focused solutions for the food industry, from a single machine or packaging material to a complete production line for the preparation, marination, processing, slicing and packaging of primarily meat, poultry, fish, seafood and cheese-based products. CFS ‘ lifecycle performance’ supports the performance of food processors throughout the lifecycle of the equipment by helping meet operational challenges such as product variety, process flexibility, reducing the cost per kilogram and per pack, food safety and the environment. CFS product and packaging uses innovation to improve output and reduce operating cost for food processors.
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