EQS-News
Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation
EQS-News: Krones AG / Key word(s): Acquisition
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9 November 2022
Corporate News Release
Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation
Krones, a leading manufacturer of filling and packaging solutions, has acquired 80.5% of R+D Custom Automation LLC (R+D) with effect from 8 November 2022. Based in Wisconsin, USA, R+D supplies machinery and equipment for the production and filling of containers for the pharmaceutical industry. As a full-service system integrator and specialised equipment manufacturer, R+D has been providing custom engineering solutions to the life science industry for over 40 years.
In the 2021 fiscal year, the company generated revenue of some US$43 million with a workforce of more than 60 employees. The purchase price for the stake in R+D is in the mid double-digit millions of US dollars and is met out of available cash funds.
Krones has an option to buy the remaining 19.5% of the shares in R+D, which remain with the current management.
The acquisition of R+D marks a continuation of Krones’ strategy of additional growth outside the beverage industry. It strengthens Krones’ activities in the attractive life science and pharmaceutical market, which shows above-average growth. In R+D, Krones also gains a highly experienced team with innovative solutions and good customer relationships with established pharmaceutical groups.
Contact:
Olaf Scholz
Head of Investor Relations, Krones AG
Tel.: +49 9401 70-1169
Email: olaf.scholz@krones.com
09.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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Language: | English |
Company: | Krones AG |
Böhmerwaldstraße 5 | |
93073 Neutraubling | |
Germany | |
Phone: | +49 (0)9401 701169 |
Fax: | +49 (0)9401 709 1 1169 |
E-mail: | investor-relations@krones.com |
Internet: | www.krones.com |
ISIN: | DE0006335003 |
WKN: | 633500 |
Indices: | SDAX |
Listed: | Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange |
EQS News ID: | 1482587 |
End of News | EQS News Service |
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1482587 09.11.2022 CET/CEST