Bobst Group and the Grautoff family, the majority shareholders of the Fischer & Krecke Group, have signed an agreement for Bobst to acquire F&K.
With this acquisition, Bobst plans to extend its existing portfolio for printing machines. “This planned acquisition is in line with the strategy of Bobst Group to expand its activities in the flexible materials industry,” Bobst said in a statement.
“We feel confident that a strategic connection with Bobst Group is the best solution to protect the further future of the company. With this decision the future product development, securing of the buying markets and further enlargement of worldwide distribution as well as the necessary funding can be ensured,” said Dietrich Bernhard Grautoff, majority shareholder and chairman of the advisory board of Fischer & Krecke.
The two managing directors of Fischer & Krecke, Georg Grautoff and Andreas Kückelmann, will continue as members of the management board while Dietrich Bernhard Grautoff will be connected with the company as member of the advisory board. The company’s production location in Bielefeld, Germany, will also be retained.
The agreement affects the shares in Fischer Beteiligungsgesellschaft, which is majority shareholder of Fischer & Krecke as well as Maschinenbau Wilhelm Kochsiek. The sale and purchase agreement is subject to the approval of the merger control authorities. “These processes will be initiated immediately. Closing is foreseen for end 2007 or early 2008,” Bobst said in a statement.
Fischer & Krecke Group offers flexo presses under the brand name Fischer & Krecke and rotogravure presses under the Kochsiek brand.
Fischer & Krecke Group