In line with its stated strategic portfolio optimization, Gea is divesting two companies that until now have been part of the Group’s Farm Technologies division.
The companies concerned are Gea Farm Technologies Japy SAS, a French manufacturer of milk cooling tanks based in Dijon, and Royal De Boer Stalinrichtingen BV, a leading European supplier of various barn types equipment based in Leeuwarden in the Netherlands. Combined, the two companies generated revenues of approximately EUR 50 million in 2019. The purchase agreement with Mutares, a stock listed private equity company, was signed on 4 November 2020. Both parties have agreed not to disclose the transaction’s financial details, which is subject to merger control approval. The closing of the transaction is expected in December 2020.
“We are pleased that Mutares SE & Co. KGaA will become the new owner of both companies, as Mutares is in a position to develop each company’s business potential to the best possible extent,” commented Stefan Klebert, chief executive officer of Gea Group.
The sale will allow Gea’s Farm Technologies division to focus on — automation and digitalization of milking installations and processes, smart solutions for herd management, and products that ensure milk quality guarantees facility hygiene and improve cow health. Likewise, the division will continue to offer a wide range of manure handling products and systems, particularly for the North American market. Gea will retain access to the product portfolio of both divested companies to continue serving individual customer needs.