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Bosch sells packaging machinery arm

17 Jul 2019
Bosch sells packaging machinery arm
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Bosch Packaging Technology will keep all its affiliates across 15 countries. The Waiblingen, Germany based company will become part of a newly incorporated organization, with CVC having been picked as the buyer thanks to its industrial expertise and growth strategy. The sale was driven by consolidation at the business, with an improved drive for digitalization.
 
Dr. Stefan Hartung, member of the board of management of Robert Bosch GmbH and chairman of the supervisory board Robert Bosch Packaging Technology GmbH, said: “With its feel in growing companies over the long term, its broad industrial expertise, and its viable strategy for taking the division forward, CVC was the right choice for us. The growth concept it has presented, as well as the investments it plans to make, are very promising. For Packaging Technology and all its associates, our aim was to find a trusted new owner with a long-term approach, under whose leadership the business can develop successfully. We have accomplished just that.”
 
A price was not disclosed, but the deal is supposed to close at the end of the year subject to antitrust and other approvals.
 
Dr. Alexander Dibelius, Managing Partner of CVC, said: “Bosch Packaging Technology is a strong firm in an attractive market with long-term growth prospects. Packaging Technology has an ideal standing for quality and innovation, a broad product range, a global footprint, and experienced associates. Together with the management team, we will work to take the business forward in the years ahead, and to make it even more aggressive.”



This article is originally posted on Tronserve.com

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