GEA sells its barn equipment and milk cooling technology businesses to Mutares SE & Co KGaA

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 B.V., a leading European supplier of various types of barn 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 SE & Co. KGaA, a stock listed private equity company, was signed today. Both parties have agreed not to disclose the financial details of the transaction which is subject to merger control approval. 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, CEO of GEA Group AG.

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 on products that ensure milk quality, guarantee 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.

About GEA

GEA is one of the largest suppliers for the food processing industry and of related industries that generated consolidated revenues of over EUR 4.9 billion in 2019.

The international technology group specializes in machinery, and plants as well as process technology and components. GEA provides sustainable energy solutions for sophisticated production processes in various end-user markets and offers a comprehensive service portfolio. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. As of December 31, 2019, the company employed about 18,500 people worldwide. The company is listed on the German MDAX (G1A, WKN 660 200), the STOXX® Europe 600 Index as well as the DAX 50 ESG Index and selected MSCI Global Sustainability Indexes.