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

EQS-News: Krones AG / Key word(s): Acquisition
Krones AG: Krones expands its capabilities in the growing pharmaceutical market with the acquisition of US company R+D Custom Automation
09.11.2022 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.

 

9 November 2022

Corporate News Release

 


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

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

In the 2021 fiscal year, the company generated revenue of some US$43 million with a workforce of more than 60 employees. The purchase price for the stake in R+D is in the mid double-digit millions of US dollars and is met out of available cash funds.

Krones has an option to buy the remaining 19.5% of the shares in R+D, which remain with the current management.

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

 

 

Contact:

Olaf Scholz

Head of Investor Relations, Krones AG

Tel.: +49 9401 70-1169

Email: olaf.scholz@krones.com

 

 


09.11.2022 CET/CEST Dissemination 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.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com

Language:

English

Company:

Krones AG

Böhmerwaldstraße 5

93073 Neutraubling

Germany

Phone:

+49 (0)9401 701169

Fax:

+49 (0)9401 709 1 1169

E-mail:

investor-relations@krones.com

Internet:

www.krones.com

ISIN:

DE0006335003

WKN:

633500

Indices:

SDAX

Listed:

Regulated Market in Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Stuttgart, Tradegate Exchange

EQS News ID:

1482587


 

End of News

EQS News Service

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