November 9, 2022
(press release)
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Krones, a leading manufacturer of filling and packaging solutions, has acquired 80.5% of R+D Custom Automation LLC (R+D) with effect from 8 November 2022. Based in Wisconsin, USA, R+D supplies machinery and equipment for the production and filling of containers for the pharmaceutical industry. As a full-service system integrator and specialised equipment manufacturer, R+D has been providing custom engineering solutions to the life science industry for over 40 years. In the 2021 fiscal year, the company generated revenue of some US$43 million with a workforce of more than 60 employees. The purchase price for the stake in R+D is in the mid double-digit millions of US dollars and is met out of available cash funds. Krones has an option to buy the remaining 19.5% of the shares in R+D, which remain with the current management. The acquisition of R+D marks a continuation of Krones’ strategy of additional growth outside the beverage industry. It strengthens Krones’ activities in the attractive life science and pharmaceutical market, which shows above-average growth. In R+D, Krones also gains a highly experienced team with innovative solutions and good customer relationships with established pharmaceutical groups.
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