KBA Plans Takeover of Diecutter Manufacturer to Bolster Sheetfed Folding Carton Focus
WURZBURG, Germany — May 24, 2016 — Koenig & Bauer AG (KBA) has finalized a Letter of Intent with Officine Meccaniche G. Cerutti S.p.A. (OMGC) in Casale Monferrato, near Alessandria, Italy, for the 100% takeover of its Spanish subsidiary Iberica AG S.A. in Barcelona. Iberica, with some 60 staff, produces medium- and large-format flatbed diecutters for board and corrugated packaging, and until now, has mainly been active in Europe and in some overseas markets. The integration into the global KBA sales and service network would greatly improve Iberica’s growth prospects. The planned takeover underscores the press manufacturer’s announced focus on the growing packaging market. KBA’s sheetfed segment is the longstanding market leader in folding carton printing. Its international customer base for sheetfed offset presses and diecutters is largely identical. Further details regarding the planned takeover will not be disclosed until negotiations are complete as contractually agreed.
Commenting on the transaction, Giancarlo Cerutti, chairman and CEO of OMGC, remarks, "In accordance with the programs of our Group, we have decided to accept the proposal of KBA for the purchasing of 100% Iberica AG .S.A and consequently we have signed a letter of intent. Iberica, which is operating in the 'sheetfed' packaging world, is no longer strategic for the current product portfolio of Cerutti Group that is more and more focused on 'web' packaging equipment. We enjoy with KBA an old and consolidated relationship that is based on mutual esteem and cooperation. I’m sure that Iberica will benefit of the further possibilities of growth and development in KBA.”
Claus Bolza-Schünemann, president and CEO of Koenig & Bauer AG, also adds, "In the meantime, the KBA Group delivers 70% of its presses to companies in the growing packaging market. Sheetfed offset presses from KBA-Sheetfed have an outstanding position worldwide for folding carton printers. With this in mind, adding flatbed diecutters to our portfolio for the same customer group makes perfect sense. The takeover and further development of Iberica through KBA corresponds to the strategic interests of both companies and we are confident that we will soon come to an agreement with the Cerutti Group given our longstanding solid company relationship."