05-Nov-2020 - Last updated on 05-Nov-2020 at 09:54 GMT

Related tags: Gea, Milk, Divestment

The companies are GEA Farm Technologies Japy SAS, a French manufacturer of milk cooling tanks based in Dijon, and Royal De Boer Stalinrichtingen B.V., a European supplier of various types of barn equipment based in Leeuwarden in the Netherlands.

German holding company Mutares SE & Co. KGaA has bought the two firms.

Combined, the two companies generated revenues of approximately €50m ($58.8m) in 2019.

Both parties have agreed not to disclose the financial details of the transaction which is subject to merger control approval. Closing of the transaction is expected in December 2020.

"We are pleased that Mutares SE & Co. KGaA will become the new owner of both companies, as Mutares is in a position to develop each company's business potential to the best possible extent,"​ Stefan Klebert, CEO of GEA Group, said.

The sale will allow GEA's farm technologies division to focus on automation and digitalization of milking installations and processes, smart solutions for herd management and on products that ensure milk quality, guarantee facility hygiene and improve cow health.

GEA said the division will continue to offer a range of manure handling products and systems, particularly for the North American market.

GEA will retain access to the product portfolio of both divested companies to continue serving individual customer needs.

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Related topics: Processing & Packaging, Fresh Milk

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