GEA Closes Acquisition of Italian Pavan Group
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."
Source: GEA Group Aktiengesellschaft