Corporate | 20 May 2015 15:55

GEA Group Aktiengesellschaft: GEA announces acquisition of technology leader in sophisticated cake and pastry products

GEA Group Aktiengesellschaft / Key word(s): Acquisition

2015-05-20 / 15:55

GEA announces acquisition of technology leader in sophisticated cake and pastry products

Düsseldorf, May 20, 2015 – GEA signed an agreement to acquire Comas in Italy. The company is a leading supplier of demanding industrial processing equipment and solutions in the cake and pastry industry in Europe. As an established player in the cake and pastry segment, Comas will join the business area Solutions in the new GEA set-up to form the new application center for bakery. The acquisition perfectly fits the GEA 2020 target footprint and enables the group to further strengthen its leading position in sophisticated process technology for the food industry. Comas is based in Torrebelvicino, North Italy, has 155 employees and generated revenues of about EUR 50 million in fiscal year 2014 mainly in the European and Asian markets. The Company’s profitability is above GEA average. The transaction remains subject to approval by the anti-trust authorities.

“The acquisition of Comas perfectly fits with our strategy “GEA 2020″ to further strengthen GEA’s competences in technologically advanced processes and attractive product applications in the food sector” commented Juerg Oleas, CEO of GEA. “Comas operates in a market segment that is characterized by stable growth rates and demand for integrated solutions in complex production processes. By combining Comas with our Group, the company will benefit from GEA’s global network to further strengthen its existing sales and service organization. In order to expand Comas’ already strong technology position, GEA plans further investments to foster innovations and support product development. On this basis, the business will be able to strengthen its footprint in important growth markets in the future.”

About GEA
GEA is one of the largest suppliers for the food processing industry and a wide range of process industries that generated consolidated sales of approximately EUR 4.5 billion in 2014. As an international technology group, the Company focuses on process technology and components for sophisticated production processes in various end-user markets. The Group generates more than 70 percent of its revenue in the sustainably growing food industry. As of March 31, 2015, the Group employed more than 18,000 people worldwide. GEA is a market and technology leader in its business areas. The Company is listed in Germany’s MDAX stock index (G1A, WKN 660 200). In addition, GEA’s share is a constituent of one of the MSCI Global Sustainability Indexes. Further information is available on the Internet at www.gea.com .

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Contact:
GEA Group Aktiengesellschaft
Phone +49 (0)211 9136 1492
Fax +49 (0)211 9136 31087
www.gea.com

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Language:	English
Company:	GEA Group Aktiengesellschaft
	Peter-Müller-Straße 12
	40468 Düsseldorf
	Germany
Phone:	+49 (0)211 9136-0
Fax:	+49 (0)211 9136-31087
E-mail:	ir@gea.com
Internet:	www.gea.com
ISIN:	DE0006602006
WKN:	660200
Indices:	MDAX
Listed:	Regulated Market in Berlin, Dusseldorf, Frankfurt (Prime Standard), Hamburg, Munich; Regulated Unofficial Market in Hanover, Stuttgart

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359863  2015-05-20