Italy-based packaging machinery supplier Bobst Italia has successfully closed its final tender offer to take over all the assets of packaging equipment manufacturer Gruppo Cerutti for an undisclosed sum.
The proceedings associated with the offer were completed on 11 November.
The deal includes Cerutti’s Officine Meccaniche Giovanni Cerutti and Cerutti Packaging Equipment subsidiaries, as well as the service company Cerutti Service.
Bobst Italia is the global ‘centre of excellence’ of Bobst, a Swiss company that provides equipment and services to packaging and label manufacturers.
The acquisition aligns with Bobst’s strategic objectives to strengthen its position in the gravure printing market.
Bobst Italia Gravure, Vacuum, Coating and Laminating head and general manager Davide Garavaglia said: “We are very pleased that the proceedings have finally come to a completion, ending a period of uncertainty for the Cerutti stakeholders locally and worldwide.
“As a company, Bobst Italia is characterised by financial and social sustainability and, as such, is able to create value in the long term.
“Following the completion, we will be able to integrate into our organisation the Cerutti technology along with its technical experts, adding to our existing know-how and capabilities.
“It also means that we can now provide Bobst’s high level of service and support to Cerutti machines installed worldwide.”
Bobst will acquire Cerutti’s brand and intellectual property rights, as well as all its intangible assets.
In addition, Cerutti’s 30 ex-colleagues will be employed at Bobst Italia’s site in San Giorgio Monferrato, Italy.
The site serves as Bobst’s main facility for gravure printing, coating and laminating technologies.
Bobst Italia renovated and expanded the facility last year, with the final phase being completed last October.
As part of the works, the company added an advanced competence centre for machine demonstrations and research and development (R&D) trials, as well as a laboratory.