The Munich-based mechanical engineering group KraussMaffei is selling its Swiss subsidiary Netstal Maschinen AG to Krones. The manufacturer of machines for the filling and packaging of beverages and liquid foodstuffs is already a long-standing customer of Netstal. The purchase price is around 170 million euros.
In addition to Netstal Maschinen AG with headquarters in Näfels Krones acquires Netstal Deutschland GmbH, a sales and service subsidiary based in Stuttgart, as well as eleven other sales and service units in the USA, South America, Europe and Asia. In the course of the sale, around 530 employees will transfer from KraussMaffei to Krones. All existing Netstal jobs will be retained. The company will continue to manage its business independently in the future. Renzo Davatz, Netstal CEO for many years, will continue to lead the company. Netstal Maschinen AG's consolidated share of the KraussMaffei Group's total sales in the 2023 financial year was just under 20 per cent.
„The sale of Netstal is part of our long-term plan to realign KraussMaffei strategically, organisationally and on the global market. In future, we want to concentrate fully on our core business and new growth markets, strengthen the KraussMaffei core brand and focus the Group accordingly. At the same time, the sale gives us scope to make further investments, for example in digitalisation and the development of new machines.” Chi Zhang, CEO KraussMaffei
Source: KraussMaffei
