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 transaction is still subject to approval by the competent antitrust authorities. The acquisition is likely to be completed in the course of 2017.
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 international technology group focuses on process technology and components for sophisticated production processes in various end-user markets. 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.
Andrea Cavagnis, who has directed Pavan Group for 25 years, will maintain his role as President. The roles of Pavan’s whole management team have been confirmed, to highlight the continuity with a management which has reached a few outstanding goals.
For over 70 years Pavan has proposed a business model fulfilling all the requirements from the global market, constantly reaching its long-term targets. With 2016 turnover of 155 mln euros, the Group employs almost 700 people in 7 plants and is a world leader in the design and realization of technologies and integrated product lines for cereal-based food, from the handling of raw materials to final packaging.
We do believe that this model can reach better performances operating within a bigger and solid Group as GEA is, in order to remain strong and competitive on a global market that increased the need for human and financial resources. Therefore we have decided to support this new development stage along with GEA, as we believe it represents the best possible partner to strengthen Pavan’s potential, while ensuring a coherent strategy, an effective organisation and a solid financial status. GEA will be engaged in promoting our growth, in compliance with the strategic and technological choices of the past few decades, aiming at developing the best technologies and offering our clients the best products and services. The management and structure of Pavan Group will continue to be the same ones that led to the results which have marked the growth of the Group.
To GEA this acquisition is a milestone for the growth and development strategy of its activities in the food industry. Pavan’s know-how in the extrusion technologies, the wide range of industrial solutions, R&D’s constant work and its presence in the main international markets represent the basis to strengthen growth, especially as far as integrated process solutions are concerned.
GEA’s acquisition marks a new growth stage for Pavan, that will rely on the support of a big brand with solid industrial and financial capacity and with the ability to enhance and promote the development of innovative technologies and commercial synergy, aiming at offering clients high quality products and services.
We would like to take this opportunity to thank all of you for your long-time collaboration and for the trust you’ve put in Pavan Group and we’re sure that we will be able to keep improving the development and the feeling of mutual fulfilment which has united us so far.