- Eighth acquisition for Mutares in the current year
- Target companies with total revenues of around EUR 50 million in the area of cooling tanks and barn equipment
- Strengthening of the Engineering & Technology segment through a new platform
- Closing of the transaction expected in Q4 2020
Munich, 04 November 2020 – Mutares SE & Co KGaA (ISIN: DE000A2NB650) and GEA Group Aktiengesellschaft (ISIN: DE0006602006) have signed an agreement to acquire GEA Farm Technologies Japy SAS and Royal De Boer Stalinrichtingen B.V. with production sites in France and the Netherlands, with a total of around 230 employees. The closing of the transaction is expected by the end of December 2020.
GEA Farm Technologies Japy SAS is headquartered in Dijon, France and is a leading manufacturer of milk cooling tanks in Europe. The products vary in size, design and application. They offer cooling tanks for smaller dairy farms and total solutions with additional options and components for larger farms. In 2019 the company achieved revenues of approximately EUR 20 million.
Royal De Boer Stalinrichtingen B.V. is a leading manufacturer of barn equipment based in Leeuwarden, the Netherlands, and complements the product portfolio in the dairy market. The product portfolio includes feed fences, cubicles, ventilation and manure systems. In 2019, the company with its approximately 115 employees generated revenues of around EUR 30 million.
Both companies will remain in their units and will be placed under a newly created intermediate holding company of Mutares. In this way, the significant synergy potential of the transaction can be leveraged efficiently and value can be added. In line with its buy-and-build strategy, Mutares is consistently exploiting the opportunities in a significantly recovering investment market. This is impressively documented by the acquisition of Japy SAS and Royal De Boer. For Mutares this is already the eighth acquisition in the current year. The transaction strengthens Mutares’ good market position, underlines the high efficiency of its processes and its claim to be a valued partner of German medium-sized companies.