Germany based printing machines producer Koenig & Bauer Group (KBA) has completed the majority takeover of Italian press manufacturer Flexotecnica.
KBA bought the stake in Flexotecnica from the previous Italian majority stakeholder Officine Meccaniche G. Cerutti (OMGC), which will now hold a 5% stake in the company.
Flexotecnica founding family successor Adriano Canette remains a shareholder with a 5% stake in the firm.
Flexotecnica manufactures and markets central-cylinder flexo presses for printing on various flexible packaging materials. The company employs around 100 people and recorded an annual sales revenue of approximately €36m in Europe and overseas markets In 2012.
KBA believes that integrating Flexotecnica into its global sales and service network will bring possibilities for further development in the print market for flexible packaging.
In September, KBA concluded the majority acquisition of German printing machines manufacturer Kammann Maschinenbau.
Kammann, which employs around 175 people, supplies screen printing machines for decorating luxury glass packaging and other hollow containers and also offers flexible transport systems equipped with hot stamping, inkjet and other decorating processes.
The two firms acquired by KBA will be renamed KBA-Kammann and KBA-Flexotecnica.