Krones about to take over Netstal

Krones is close to sign an agreement regarding the acquisition of 100% of Netstal Maschinen from KraussMaffei. The final signing of the transaction is scheduled for beginning of February 2024. After signing the transaction is subject to approval under the relevant antitrust legislation. Krones expects the transaction to be completed within the first half of 2024.

The acquisition of Netstal is benefitting Krones on various dimensions. Netstal’s PET and Cap businesses complement Krones’ product portfolio for the beverage market. With respect to PET closed-loop solutions Krones then covers all technologies required from injection molding to PET container production through to filling/packaging and recycling. The medical and thin-wall packaging segments of Netstal support the Krones strategy to diversify into the medical/pharma market as well as into food and home-personal-care applications. Netstal will retain its business responsibility within Krones, while benefitting from the international set-up and scale of Krones.

In the 2023 fiscal year, Netstal generated with a workforce of more than 500 employees revenue of more than 200 million euros. The profitability of the company is currently below the Krones Group level but is expected to close this gap over the coming years. Netstal will be reported as part of the segment Filling and Packaging Technology. Krones finances the purchase with existing liquid funds, but also may take advantage of partial debt financing.