IMA Group acquires Oystar Group

IMA Industria Macchine Automatiche SpA has purchased the operating business of leading global packaging machine supplier Oystar Group from private equity firm Odewald.

The newly founded holding company, IMA Dairy and Food GmbH, will run Oystar's operating companies, which include Benhil, Erca, Gasti, Hamba, and Hassia. They will function under the umbrella of IMA Group but will continue to act independently. The change in ownership will not have any direct impact on employees, production locations, and customers.

The Bologna, Italy-based IMA Group, a world leader in designing and manufacturing automatic machines for the processing and packaging of pharmaceuticals, cosmetics, tea, coffee and food, will hold 80% of the shares in IMA Dairy and Food GmbH. Odewald will have a 20% minority participation.

The consolidated revenues of the companies acquired by IMA are expected to reach € 185 million in fiscal year 2015, with an EBITDA of approximately € 15 million. The group will now have more than 850 employees.

IMA Group chairman and CEO Alberto Vacchi said the product portfolio of acquired companies complements IMA's offerings in the food industry, and helps position the firm among the leaders in food packaging globally. "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, "he added.

According to Oystar Group CEO Markus Ehl, "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 under the umbrella of IMA Group. "

The transaction will be subject to approval of the cartel authorities. It is expected to be completed by the first quarter of 2015.