GEA Group AG

M&A Activity • Dec 20, 2010

News Details

Ad-hoc | 20 December 2010 13:26

GEA Group Aktiengesellschaft: GEA acquires Convenience Food Systems (CFS)

GEA Group Aktiengesellschaft / Key word(s): Acquisition

20.12.2010 13:26

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Bochum, December 20, 2010 - GEA Group Aktiengesellschaft, today acquired
the company Convenience Food Systems (CFS) headquartered at Bakel, NL. The
transaction remains subject to approval by the antitrust authorities and is
expected to be consummated during the first half year 2011.

CFS is a manufacturer of technology for the processing and packaging of
animal protein foodstuffs (meat, fish, cheese). CFS expects a turnover this
financial year of about EUR 400 M. The acquisition of CFS presents GEA with
an opportunity to enter a new and steadily growing sector of food
processing and packaging. In addition, it represents a platform to build on
with further acquisitions in the future. CFS is to be integrated into the
GEA Group as a sixth independent segment.

The purchase price is based on an enterprise value of about EUR 435 M and
will be financed with existing credit facilities. GEA expects the gearing
to come down again to prior levels during the next 3 years thanks to the
free cash flows of the group.

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Language: English
Company: GEA Group Aktiengesellschaft
Dorstener Straße 484
44809 Bochum
Deutschland
Phone: +49 (0)234 980-0
Fax: +49 (0)234 980-1004
E-mail: ir@geagroup.com
Internet: www.geagroup.com
ISIN: DE0006602006
WKN: 660200
Indices: MDAX
Listed: Regulierter Markt in Berlin, Düsseldorf, Frankfurt (Prime
Standard), Hamburg, München; Freiverkehr in Hannover,
Stuttgart

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