Krones: Acquisition of Netstal in preparation - Expansion of the product portfolio to include injection moulding technology

Krones is about to finalise the acquisition of 100 percent of the shares in Netstal Maschinen AG (Netstal) from KraussMaffei. Netstal, based in Näfels, Switzerland, is a leading supplier of injection moulding machines for the beverage market (PET preforms and closures) as well as for medical applications and thin-wall packaging. The company was already a strategic partner of Krones.

According to Krones, Netstal generated sales of more than 200 million euros in the 2023 financial year with over 500 employees. The company's profitability is currently still below the level of the Krones Group. However, it is expected to rise to the level of Krones in the coming years. Krones intends to consolidate Netstal in the Filling and Packaging Technology segment. Krones intends to finance the acquisition from existing cash and cash equivalents and, if necessary, to utilise the advantages of partial debt financing.

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Netstal's PET and closure business complements Krones' product portfolio for the beverage market. After the takeover, Krones will also cover all the technologies required for closed PET loop solutions: Starting with the injection moulding of preforms, through PET container production, filling and packaging, to the recycling of used bottles. With its injection moulding technology for medical applications and thin-wall packaging, Netstal supports Krones' strategy of diversifying into the medical/pharmaceutical and food and personal care markets. Netstal will continue to manage its business independently and benefit from Krones' international positioning and economies of scale.

Closing of the transaction (signing) is planned for the beginning of February 2024. The purchase is subject to the approval of the antitrust authorities. Krones expects the transaction (closing) to be completed in the first half of 2024.

More information: www.krones.com, www.netstal.com, www.kraussmaffei.com

Krones AG, Neutraubling, Germany