Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US R+D company Custom Automation

EQS-News: Krones AG / Tag(s): Acquisition

Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US R+D company Custom Automation

09.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

November 9, 2022

Corporate press release

Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US R+D company Custom Automation

Krones, a leading manufacturer of filling and packaging solutions, has acquired 80.5% of R+D Custom Automation LLC (R+D) effective November 8, 2022. Based in Wisconsin, USA United, R+D provides machinery and equipment for the production and filling of containers for the pharmaceutical industry. As a full-service systems integrator and specialty equipment manufacturer, R+D has been providing custom engineered solutions to the life science industry for over 40 years.

In fiscal 2021, the company generated revenue of approximately US$43 million with a workforce of over 60 employees. The purchase price for the R+D stake is in the range of millions of double-digit US dollars and is funded from available cash.

Krones has an option to purchase the remaining 19.5% of R+D shares, which remain owned by current management.

The acquisition of R+D marks the continuation of Krones’ strategy of further growth outside the beverage industry. It strengthens Krones’ activities in the attractive life sciences and pharmaceuticals market, which is showing above-average growth. In R+D, Krones also has a highly experienced team with innovative solutions and good customer relationships with established pharmaceutical groups.

Contact:

Olaf Scholz

Head of Investor Relations, Krones AG

Such. : +49 9401 70-1169

Email: [email protected]

09.11.2022 CET/CEST Broadcast of a Corporate News, transmitted by EQS News – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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