Stuttgart, Germany — The packaging machinery business of Robert Bosch Packaging Technology GmbH, based in Waiblingen, Germany, has been acquired by a newly incorporated entity managed by CVC Capital Partners (CVC). The pharma and food units will remain intact, the company reports. Based in Luxemburg, CVC is a private equity and investment advisory firm with 24 offices in Europe, Asia, and the U.S., currently managing more than $75 billion of assets. Bosch’s packaging technology business employs 6,100 associates in 15 countries. Financial details of the deal, which is expected to close by the end of the year, were not disclosed.
Dr. Alexander Dibelius, CVC managing partner, says: “Bosch Packaging Technology is a strong company in an attractive market with long-term growth prospects. Packaging Technology has an excellent reputation 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 competitive.”
“My colleagues and I in executive management regard this new partnership with CVC as a huge opportunity for our future success. Just under two years ago, we completely modified our strategy. It now includes working on a completely new range of smart and sustainable process and packaging technologies. This will allow us to offer our customers even more attractive product solutions and services in the future. Our customers and our associates will benefit from the progress we have made,” says Dr. Stefan König, president of Bosch .
Dr. Stefan Hartung, member of the board of management of Robert Bosch GmbH and chairman of the supervisory board for the packaging group, notes: “With its experience 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 reliable new owner with a long-term approach, under whose leadership the business can develop successfully. We have achieved just that.”
Bosch announced a year ago it was looking for a buyer for its packaging technology business. The company is giving increasing attention to mobility and connectivity over the internet of things. It is focusing its existing resources on areas of future importance, such as shaping the transformation process and preparing for further digitalization. C&ST