Bosch plans to sell its packaging business to CVC

German engineering group Bosch who had announced a year ago that it was looking for a buyer for its packaging machinery business, has decided to sell it to Luxemburg-based private equity firm CVC Capital Partners (CVC).

13 Jul 2019 | By Abhishek Muralidharan

Bosch's packaging technology division generated Euro 1.3 billion in sales last year

Dr Alexander Dibelius, managing partner of CVC, said, “Bosch packaging technology is a strong company in an attractive market with long-term growth prospects. Packaging technology has an excellent reputation for quality and innovation, a broad product range, a global footprint, and experienced associates. Together with the management team, we will work to take the business forward in the years ahead, and to make it even more competitive."
The company and its pharma and food units will remain intact, and the completion of the sale is expected to close at the turn of the year.

The parties signed an agreement on 11 July 2019 effecting the transfer of the entire packaging technology business and its 6,100 associates in 15 countries. It has been agreed that the purchase price and other details of the purchase agreement will not be disclosed. 

Dr Stefan Konig, the president of Robert Bosch Packaging Technology said, "My colleagues and I in executive management regarding this new partnership with CVC as a huge opportunity for our future success. Just under two years ago, we completely modified our strategy. It now includes working on a completely new range of smart and sustainable process and packaging technologies. This will allow us to offer our customers even more attractive product solutions and services in the future. Our customers and our associates will benefit from the progress we have made."

According to Konig, the packaging technology division's competitiveness, and thus also its future viability, can be further enhanced through this new partnership, and a significant stimuli for growth can be created.

Dr Stefan Hartung, member of the board of management of Robert Bosch and chairman of the supervisory board Robert Bosch Packaging Technology, said, "With its experience in growing companies over the long term, its broad industry expertise, and its viable strategy for taking the division forward, CVC was the right choice for us.“

CVC is a leading private equity and advisory firm with 24 offices in Europe, Asia, and the United States. It currently manages more than USD 75 billion of assets.

Bosch's packaging technology division generated Euro 1.3 billion in sales last year.

Hartung, added, “The growth concept it has presented, as well as the investments it plans to make, are very promising. For Packaging Technology and all its associates, we aimed to find a reliable new owner with a long-term approach, under whose leadership the business can develop successfully. We have achieved just that."