Krones announced it is close to signing an agreement to acquire 100 percent of Netstal Maschinen AG from KraussMaffei. Naefels, Switzerland-based Netstal is a leading supplier of injection molding machines and has been a strategic partner of Krones in the past.
The final signing of the transaction is scheduled for the beginning of February. After the signing, the transaction is subject to approval under relevant antitrust legislation. Krones expects the transaction to be completed within the first half of this year.
With a workforce of more than 500 employees, Netstal generated revenue of more than $216 million in the 2023 fiscal year. Krones will finance the purchase with existing liquid funds, but also could take advantage of partial debt financing.
Krones said the acquisition is beneficial in several ways, with Netstal’s PET and cap businesses complementing Krones’ product portfolio for the beverage market. Krones’ technologies provide closed-loop solutions for applications including injection molding, PET container production, filling/packaging and recycling.
Netstal’s medical and thin-wall packaging segments will support Krones' strategy to diversify into the medical/pharmaceutical market as well as into food and home and personal-care applications. It will benefit from Krones' international scale.