Krones, the German expert in filling and packaging systems based in Neutraubling, is on the brink of acquiring full ownership of Netstal Maschinen AG, a Swiss manufacturer renowned for its high-speed injection molding machines. The seller is KraussMaffei, the Munich-based German engineering conglomerate.
The two parties are poised to finalize the purchase agreement in February, aiming to complete the transaction by mid-2024, pending regulatory approvals. Although the exact purchase price remains undisclosed, Swiss media outlets speculate it to be around 170 million euros. A spokesperson confirmed that Netstal's current EBITDA margin slightly trails behind the 9 to 10 percent range currently achieved by Krones.
Speculations about a potential sale of Netstal had been circulating for some time, particularly following various restructuring efforts at KraussMaffei. In the fiscal year 2023, Netstal reported revenues exceeding 200 million euros with a workforce of over 500 employees.
Although Netstal will be integrated into Krones' "Filling and Packaging Technology" segment, it will continue to operate autonomously.
The acquisition of Netstal offers several advantages to Krones as outlined in a press statement by Krones. Netstal's PET and closure business perfectly complements Krones' product portfolio in the beverage sector. Additionally, the acquisition will enable Krones to provide a comprehensive suite of technologies for closed-loop PET solutions, encompassing preform injection molding, PET container production, filling, packaging, and recycling of used bottles. With its injection molding technology tailored for medical applications and thin-walled packaging, Netstal aligns well with Krones' strategic diversification into the medical/pharmaceutical, food, and personal care industries. Netstal will continue to operate autonomously and leverage Krones' global presence and economies of scale.