BOLOGNA – The IMA Group strengthens its range of machinery for flowpack and fold packaging. Yesterday, IMA signed an agreement with the Redaelli family for the purchase of 60% of the shares in EUROSICMA S.p.A., based in Segrate (Milan), which produces and markets automatic machines and systems for horizontal flowpack and fold packaging for the food, cosmetic and pharmaceutical industries.
EUROSICMA is a historical Italian packaging company, founded in 1965, with a long established leadership in certain market niche s such as candies, biscuits packed on edge and noodles in the food industry, sticking plasters and cotton buds in pharma and personal care.
At the date of the closing, the company estimates a positive net financial position of approximately 7 million euros and for 2017 expects sales of around 27 million euros and an EBITDA of 4.5 million euros with good growth prospects, also thanks to the overall support that the IMA Group can provide by integrating it into the Group’s organisation.
For IMA, the operation entails an outlay of some 26 million euros , to be paid at the closing, which is expected to take place by 30 September 2017, and the signing of put & call options on the other 40% of the shares, to be exercised by April 2027.
Alberto Vacchi (PICTURE), Chairman and CEO of IMA, commented as follows: “This is a strategic deal as it will strengthen our Group’s leadership in the field of automatic flowpack and fold packaging machines by expanding our current product range and creating significant production and commercial opportunities with other Group companies. With this operation IMA continues to enhance leading market brands, while strengthening its industrial presence in Italy.”
Marco Redaelli, Managing Director of EUROSICMA, commented: “This operation is of great satisfaction to us; in IMA we have identified the best partner to continue our company’s development and to reach more technological and commercial goals in the flowpack and fold sector, where we have been leading players for over 50 years. The Redaelli family will always be in the forefront of the company’s operational and strategic management, with the aim of keeping customer orientation as high as possible.”
