IMA Group acquires Oystar

Italian and German combination

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Oystar
IMA Group’s stand at Pack Expo 2014 in Chicago. With the acquisition, IMA Group will hold 80% shares in IMA Dairy and Food, while Odewald will continue to support the companies with a minority participation of 20%.

The international IMA Industria Macchine Automatiche S.p.A. (IMA Group), headquartered in Bologna,Italy, has acquired the operating business of Oystar Group, a globally leading producer of packaging machines, from private equity firm Odewald. The operating companies of Oystar Group – Benhil, Erca, Gasti, Hamba and Hassia – will be transferred into the newly founded holding company IMA Dairy and Food. Under the umbrella of IMA Group, they will continue to act independently and continue their growth. There are no material consequences for the group’s customers, employees and production locations following from the change in ownership. The closing of the transaction, which is expected in the first quarter of 2015, is subject to approval of the cartel authorities.

IMA Group will hold 80% shares in IMA Dairy and Food, while Odewald will continue to supportthe companieswith a minority participation of 20%. For the 20% of the shares remaining with Odewald, put and call options have been agreedupon, planned to be exercised in the years 2017 and 2018.Withmore than 850 employees, the companies now acquired by IMA expect consolidated revenues of approximatelyEuro 185million and an EBITDA of approximately Euro 15 million in fiscal year 2015. IMA Group is a world leaderin the design and manufacture of automatic machines for the processing and packaging of pharmaceuticals, cosmetics, tea, coffee and food. TheGrouphas approximately 3,700 employees and 24 production plants in Italy, Switzerland, the United Kingdom, the United States, India and China as well as a global sales and service network. IMA Group is active in more than 80 countries. Forfiscal year 2014, IMA Group expects revenues of Euro 850 million and EBITDA of Euro 130 million.

Alberto Vacchi, chairman and CEO of IMA Group, said, “With this acquisition, the IMA Group is taking anotherimportant step towards the future. The product range of the companies being acquired is complementary to our presence in the food industry and positions us, worldwide, among the most important group leaders in food packaging. The combination of Italian and German excellence, internationally recognized as the leading edge in this field of technology, opens up new and interesting prospects for the IMA Group. Italian creativity and design, in a framework of production flexibility, combined with solid German technical expertise, undoubtedly result in creating a unique and successful mix for our key markets,
generating a model for combining already competitive industrial expertise in different parts of the Europe.”

Markus Ehl, CEO of Oystar Group, said, “Our strategy has been and will be to focus and build on our strengths. Odewald’s support over the past years in growing our business has been outstanding. We are looking forward to continue our successful growth path underthe umbrella of IMA Group.”

Odewald acquired Oystar Group in March 2007 and together with the Group’s management implemented a strategic realignment in 2009 and 2010 that led the company to sustainable, profitable growth. Since the realignment of the business was concluded, Oystar has recorded steadily rising revenue and earnings figures. Its growth was further accelerated by strategically focusing the company on primary packaging solutions for the dairy and food industry.

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