Coesia Group has signed an agreement for the acquisition of 100 percent of Oystar North America Inc. from Oystar Group, subject to customary antitrust approvals.
Oystar NA has revenues of over USD 200 million (approx. Euro 160 million), two U.S. based sites in Davenport, Iowa, and Covington, Kentucky, over 550 employees and more than 70 patents worldwide. Oystar NA is the leading North America player in Food and Consumer Goods packaging machinery, through its seven brands: Jones (pouch filling and cartoning), KartridgPak (Chub Packaging), Autoprod and Holmatic (Cup filling and sealing), Aerofill (Aerosol machinery), Dawson (bottle filling) and MAP Systems (patented solutions for improving product shelf life).
Oystar NA's heritage traces back to two pioneers in US packaging machinery, R.A. Jones & Co. founded in 1905 in Covington, Kentucky, and Kartridg Pak / Packaging Technologies, founded in 1946 in Chicago, Illinois.
"We are very pleased that Oystar North America and its strong management team are joining the Coesia Group, setting the standard for customer-centric packaging solutions in North American Food and Consumer Goods sectors. We intend to continue to support Oystar NA's investment in innovation and help accelerate its international presence and its expansion in new segments. Oystar NA powerful US service and support platform should also provide immediate benefits for Coesia's existing companies and their North American customers," said Angelos Papadimitriou, Chief Executive Officer of Coesia Group.
Barry Shoulders, will continue to lead the newly acquired company, which has grown to become one of the largest suppliers of primary, secondary and tertiary packaging machinery and services in the United States, Canada and Mexico. Barry Shoulders comments: "The same people our customers have worked with all the way back to the days of Packaging Technologies and R.A. Jones will continue to provide excellent and uninterrupted service as we take advantage of the expanded opportunities now available to us as part of the Coesia Group. Coesia's technological strength and extensive global footprint will make us even stronger as we continue to bring the best solutions to our customers."
With forecast 2012 revenues (pre-acquisition) of Euro 1.2 billion (approx. USD 1.5 billion) and 5000 employees, Coesia is a Group of innovation-based industrial solutions companies operating globally, headquartered in Bologna, Italy and fully owned by Isabella Seràgnoli. The Group's companies are leaders in the sectors of Advanced Automated Machinery, Industrial Process Solutions (production logistics, inline printing and vision inspection systems) and Precision Gears. Coesia's customers are the leading players in Health & Beauty, Consumer Goods, Tobacco and Aerospace & Racing industries.
Coesia Group consists of 12 companies, headquartered in six different nations and present in 27 countries with 48 manufacturing sites: G.D, SASIB, ACMAVOLPAK, GDM, NORDEN, CITUS/KALIX, FLEXLINK, ADMV, SACMO, HAPA, LAETUS, CIMA.
Source: Coesia Group