KRONES AG - M&A Activity 2022 | FinancialReports.eu

News Details

Corporate | 9 November 2022 07:30

Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation

EQS-News: Krones AG / Key word(s): Acquisition

Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation

09.11.2022 / 07:30 CET/CEST

The issuer is solely responsible for the content of this announcement.

9 November 2022

Corporate News Release

Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation

Krones, a leading manufacturer of filling and packaging solutions, has acquired 80.5% of R+D Custom Automation LLC (R+D) with effect from 8 November 2022. Based in Wisconsin, USA, R+D supplies machinery and equipment for the production and filling of containers for the pharmaceutical industry. As a full-service system integrator and specialised equipment manufacturer, R+D has been providing custom engineering solutions to the life science industry for over 40 years.

In the 2021 fiscal year, the company generated revenue of some US$43 million with a workforce of more than 60 employees. The purchase price for the stake in R+D is in the mid double-digit millions of US dollars and is met out of available cash funds.

Krones has an option to buy the remaining 19.5% of the shares in R+D, which remain with the current management.

The acquisition of R+D marks a continuation of Krones’ strategy of additional growth outside the beverage industry. It strengthens Krones’ activities in the attractive life science and pharmaceutical market, which shows above-average growth. In R+D, Krones also gains a highly experienced team with innovative solutions and good customer relationships with established pharmaceutical groups.

Contact:

Olaf Scholz

Head of Investor Relations, Krones AG

Tel.: +49 9401 70-1169

Email: [email protected]

09.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News – a service of EQS Group AG.

The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com


Language:	English
Company:	Krones AG
	Böhmerwaldstraße 5
	93073 Neutraubling
	Germany
Phone:	+49 (0)9401 701169
Fax:	+49 (0)9401 709 1 1169
E-mail:	[email protected]
Internet:	www.krones.com
ISIN:	DE0006335003
WKN:	633500
Indices:	SDAX
Listed:	Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange
EQS News ID:	1482587