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Corporate
Family business sold
The Grautoff family – majority shareholder of Fischer & Krecke GmbH & Co. KG – has signed an agreement concerning the sale of its shares to Bobst Group S.A. in Lausanne (Switzerland). Fischer & Krecke is an old-established machine manufacturer with a tradition of more than 125 years that has attained a leading position primarily in the world market for flexo printing presses. The agreement affects the shares in Fischer Beteiligungsgesellschaft mbH, which is majority shareholder of Fischer & Krecke GmbH & Co. KG as well as Maschinenbau Wilhelm Kochsiek GmbH.
The buyer – Bobst Group S.A. – is a company listed on the stock exchange that is regarded as world market leader in the field of machines for the production of packaging. Bobst plans to amend and extent its existing portfolio for printing machines by the acquisition of Fischer & Krecke GmbH & Co. KG. To explain his decision to sell Mr. Dietrich Bernhard Grautoff – majority shareholder and chairman of the advisory board of Fischer & Krecke stated the following: My family sells off the company very reluctantly. After thorough consideration in the family circle we feel confident that a strategic connection with Bobst Group is the best solution to protect the further future of the company. With this decision the future product development, securing of the buying markets and further enlargement of worldwide distribution as well as the necessary funding can be ensured most likely. The shareholders and the members of the advisory board are convinced that they have found the best solution for employee job security and therefore for the future of Fischer & Krecke. The production location in Bielefeld will not only be retained, it will even be strengthened by adding new activities.
Fischer & Krecke is managed by its managing directors Dr. Georg Grautoff and Andreas Kückelmann. Both managers will remain members of the management board. Mr. Dietrich Bernhard Grautoff will be connected with the company as member of the advisory board in the future, too.
The sale and purchase agreement has been signed on September 20th, 2007. It is subject to the approval of the merger control authorities.
