Closing of CFS takeover completed
Effective March 24, GEA Group Aktiengesellschaft successfully concluded the takeover of Convenience Food Systems (CFS), who are headquartered at Bakel, Netherlands. The result of CFS will be consolidated for the remaining nine months of 2011 in GEA's statements. On a pro forma basis however, GEA will in the future disclose key figures of the acquired business for the whole year. Revenues of CFS during the prior business year amounted to ca. EUR 407 million, reports www.megafishnet.com with reference to GEA Group.
With the acquisition of CFS, GEA has added to its group one of the most multi-faceted suppliers of secondary food processing and packaging machinery (meat, fish, cheese). GEA will manage the acquisition as a new independent segment under the name GEA Convenience-Food Technologies (CT).
GEA Group Aktiengesellschaft is one of the largest suppliers of process technology and components for the food and energy industries. As an international technology group, the Company focuses on sophisticated production processes. In 2010, GEA generated consolidated revenues in excess of EUR 4.4 billion, 70 percent of which came from the food and energy sectors, which are long-term growth industries. The group employed over 20,000 people worldwide as of December 31, 2010. GEA Group is a market and technology leader in its business areas. It is listed in Germany's MDAX stock index (G1A, WKN 660 200).