The international IMA Industria Macchine Automatiche S.p.A. (IMA Group) has acquired the operating business of Oystar Group, a globally leading producer of packaging machines, from private equity firm Odewald. The operating companies of Oystar Group – Benhil, Erca, Gasti, Hamba and Hassia – will be transferred into the newly founded holding company IMA Dairy and Food. Under the umbrella of IMA Group, they will continue to act independently and continue their growth.
While IMA will own 80% of the shares, 20% will be owned by Odewald. For the 20% of Odewald’s shares, put and call options have been agreed upon that will be exercised in the years 2017 and 2018.
“With this acquisition, the IMA Group is taking another important step towards the future. The product range of the companies being acquired is complementary to our presence in the food industry and positions us, worldwide, among the most important group leaders in food packaging. The combination of Italian and German excellence, internationally recognized as the leading edge in this field of technology, opens up new and interesting prospects for the IMA Group. Italian creativity and design, in a framework of production flexibility, combined with solid German technical expertise, undoubtedly result in creating a unique and successful mix for our key markets, generating a model for combining already competitive industrial expertise in different parts of the Europe,” said Alberto Vacchi, Chairman & CEO, IMA Group.
Markus Ehl, CEO, Oystar Group, said, “Our strategy has been and will be to focus and build on our strengths. Odewald’s support over the past years in growing our business has been outstanding. We are looking forward to continue our successful growth path under the umbrella of IMA Group.”