Australia's GrainCorp finalizes €58M purchase of GermanMalt, which will change its name back to Schill Malz; company has four malthouses with production capacity of up to 190,000 tonnes/year

SYDNEY , October 4, 2011 (press release) – GrainCorp today advised that it has completed the purchase of GermanMalt GmbH & Co. for an enterprise value of €58 million, inclusive of €18 million in inventory and working capital.

The company also advised that the name of GermanMalt has reverted to ‘Schill Malz’, being the former company name.

Over 150 years old, Schill Malz is a highly regarded supplier of a diverse range of high quality malt to local and export customers, including the growth markets in Asia and Africa.

The company has four malthouses in Worms, Mülheim/Ruhr, Sangerhausen and Clingen, with an annual production capacity of up to 190,000 tonnes.

Current joint Managing Directors, Peter Schill and Carl Otto Schill, will remain with Schill Malz, providing continuity and stability for the business.

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