Packaging machinery manufacturer Oystar Group has divested its end-of-line packaging solutions company Automation + Fördertechnik (A+F) to German industrial holding company mutares.
The transaction, which is subject to German Federal Cartel Authority approval, is said to form a part of Oystar Group's strategy to focus on its core business.
Based in Kirchlengern, Germany, A+F employs more than 179 people and generated revenues of around €30m in 2013.
A+F provides integrated solutions to the dairy, beverage, food, consumer and other sectors. It offers palletizers, including layer plate and gripper palletizers, and robot palletizing systems, besides many others.
In addition, A+F is considering expansion into other industry applications.
Mutares CEO and founder Axel Geuer said: "From my own experience as a former customer of A+F, I especially appreciate the flexibility and reliability of the developed solutions."
Mutares board member Wolf Cornelius said: "We are delighted to generate additional business potential for A+F by strengthening its sales activities."
The financial terms of the transaction have not been disclosed.
Based in Munich, mutares acquires companies sold by their former owners as part of a strategic repositioning.
It supports all the acquired companies with its own team of experts to uplift the values of the companies.
Image: A+F provides packaging solutions to the dairy, beverage and food sectors. Photo: courtesy of punsayaporn / FreeDigitalPhotos.net.