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GEA Group AG
M&A Activity • Dec 1, 2017
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M&A Activity
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Corporate | 1 December 2017 09:00
GEA Group Aktiengesellschaft: GEA closes acquisition of Italian Pavan Group
DGAP-News: GEA Group Aktiengesellschaft / Key word(s): Takeover
01.12.2017 / 09:00
The issuer is solely responsible for the content of this announcement.
GEA closes acquisition of Italian Pavan Group
Düsseldorf (Germany), December 1, 2017 – GEA concluded the acquisition of the Pavan Group, headquartered in Galliera Veneta near Padua, Italy, which was signed in September. With the acquisition of Pavan, GEA has added to its group a leading supplier of extrusion and milling technology for processing all kinds of fresh and dried pasta, pelleted snack products and breakfast cereals.
“With its extrusion know-how the Pavan Group builds an attractive platform for us to extend the technology portfolio. In strategic terms, therefore, the company is an excellent match for us and will help to promote growth at GEA going forward”, explained Jürg Oleas, CEO of GEA. “In the coming weeks, an experienced GEA team will closely cooperate with their Pavan colleagues on site to ensure that both the local management and the employees feel part of the GEA family as soon as possible.”
Corporate Media and Press:
GEA Group Aktiengesellschaft
Dr. Eva Breßler
Peter-Müller-Str. 12, 40468 Düsseldorf, Germany
Phone +49 (0)211 9136-1501
About GEA
GEA is one of the largest suppliers for the food processing industry and a wide range of other industries that generated consolidated revenues of approximately EUR 4.5 billion in 2016. The international technology group focuses on process technology and components for sophisticated production processes in various end-user markets. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. As of September 30, 2017, the company employed about 17,000 people worldwide. GEA is a market and technology leader in its business areas. The company is listed on the German MDAX (G1A, WKN 660 200). In addition, GEA’s stock is included in the MSCI Global Sustainability Indexes. Further information is available on the Internet at gea.com .
If you do not want to receive any further information from GEA, please send an email to [email protected] .
Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
gea.com
01.12.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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| Language: | English |
| Company: | GEA Group Aktiengesellschaft |
| Peter-Müller-Straße 12 | |
| 40468 Düsseldorf | |
| Germany | |
| Phone: | +49 (0)211 9136-0 |
| Fax: | +49 (0)211 9136-31087 |
| E-mail: | [email protected] |
| Internet: | www.gea.com |
| ISIN: | DE0006602006 |
| WKN: | 660200 |
| Indices: | MDAX |
| Listed: | Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |