GEA Acquires Specialist for Filling Lines in Slovenia
GEA has signed an agreement to acquire Vipoll, a family owned manufacturer of filling technologies for carbonated soft drinks, beer and fresh milk products.
The acquisition strengthens GEA s market position as a total solutions provider in the beverage processing industry. It adds competence in filling of especially glass bottles and cans, as well as pet bottles for non-sensitive products. Vipoll is based in Križevci pri Ljutomeru, Slovenia and employs more than 100 employees. In 2016, it generated sales of approximately EUR 20 million. Both companies have agreed to keep the purchase price confidential. Completion of the transaction is expected by the end of 2017. The transaction is still subject to approval by the antitrust authorities.
"The acquisition of Vipoll broadens GEA´s solutions portfolio for the beverage industry. The complementarity to our products provides an excellent opportunity to fill a white spot. This will support our position as a leading global supplier of complete solutions for the beverage industry. In respect of shareholder value, we rated this acquisition as more EPS-accretive than alternative capital allocations", explained Jürg Oleas, CEO of GEA Group Aktiengesellschaft.
Vipoll adds innovative filling and bottling equipment, container conveyors and comprehensive engineering solutions for low and mid speed lines to GEA s downstream process chain competencies. Vipolls customers are mainly in Europe which should lead to sales synergies from marketing its technology globally and increasing the share of services through GEA s existing sales & service network.
Source: GEA Group Aktiengesellschaft