GEA sells its barn equipment and milk cooling technology businesses to Mutares SE & Co KGaA

In line with its stated strategic portfolio optimization, GEA is divesting two companies that until now have been part of the Group’s Farm Technologies division.
 
The companies concerned are GEA Farm Technologies Japy SAS, a French manufacturer of milk cooling tanks based in Dijon, and Royal De Boer Stalinrichtingen B.V., a leading European supplier of various types of barn equipment based in Leeuwarden in the Netherlands. Combined, the two companies generated revenues of approximately EUR 50 million in 2019. The purchase agreement with Mutares SE & Co. KGaA, a stock listed private equity company, was signed today. Both parties have agreed not to disclose the financial details of the transaction which is subject to merger control approval. Closing of the transaction is expected in December 2020.