The Düsseldorf engineering group GEA has acquired the Italian Pavan Group, a leading supplier of extrusion and milling technology for processing all kinds of fresh and dried pasta, pelleted snack products and breakfast cereals.
Along the lines of the growth and development strategy conducted for over 70 years, Pavan Group will join the industrial group GEA, to increase its range of technologies with its know-how and experience in the field of plants for the milling industry, for the extrusion of pasta, snacks and breakfast cereals, as well as packaging. The parties have agreed to keep the purchase price confidential. The transaction is still subject to approval by the competent antitrust authorities. The acquisition is likely to be completed in the course of 2017. Andrea Cavagnis, who has directed Pavan Group for 25 years, will maintain his role as President.
GEA is headquartered in Germany and one of the largest suppliers for the food processing industry and for a wide range of other industries. The group generates around 70 percent of its revenue in the food and beverages sector that enjoys long-term sustainable growth. With its 17,000 employees worldwide, GEA in 2016 generated consolidated revenues of approximately 4,5 billion euros. And Pavan Group is a world leader in the design and engineering of technologies and integrated product lines for cereal based food. With 2016 turnover of 155 mln euros, the Group employs almost 700 people in 7 plants.
To GEA, this acquisition is a milestone for the growth and development strategy of its activities in the food industry. “With its extrusion know-how the Pavan Group builds an attractive platform for us to extend the technology portfolio. In strategic terms, therefore, the company is an excellent match for us and will help to promote growth at GEA going forward,” stated Jürg Oleas, CEO of GEA Group. “With GEA’s extensive sales and service network, we will be able to open up new markets for our solutions across the whole world,” said Andrea Cavagnis, CEO of Pavan S.p.A .