Packaging company Multivac has acquired bakery equipment manufacturer Fritsch Group to expand its range of solutions for processing food products.
Germany-headquartered Fritsch’s product range consists of equipment and technology for dough forming and processing.
In 2018, Fritsch generated turnover of around €80 million and it currently employs around 600 staff. In April, the firm filed for insolvency.
Fritsch is represented by its subsidiaries in Russia, Poland, the UK and the US. Post-transaction, the manufacture and development of the company’s products will continue at its site in Markt Einersheim, Germany.
“The takeover of Fritsch is another important step for Multivac in expanding our range of integrated solutions for processing and packaging food products,” said Christian Traumann, director and group CFO of Multivac.
“Thanks to the processing solutions from Fritsch, we will continue to extend our presence in the bakery industry, where we have already been able in recent years to implement some very challenging projects for automated packaging solutions.”
In addition to the management in place, a Multivac management team will be appointed to run the company.
Guido Spix, director and group CTO/COO of Multivac, said: “We are very pleased at the successful takeover of the Fritsch Group, and we are also convinced that our management will make an important contribution to the recovery of the company. Fritsch is an industry leader in bakery equipment and has an excellent reputation in the market.
“Thanks primarily to the integration of Fritsch products in Multivac’s line solutions, we see great synergy potential, which will make a major contribution to the healthy development of Fritsch in future.”
It is expected the acquisition will be completed by 1 August 2019.
Earlier this year, Multivac announced plans to open a new production facility in Taicang, China, to allow it to serve customers in the country more effectively.
© FoodBev Media Ltd 2019