Krones Set to Acquire Netstal

The Krones Group reports on its website that it is close to signing an agreement for the purchase of 100% of Netstal Maschinen AG from plastics processing machinery company KraussMaffei. The deal is valued at €170 million ($184.48 million), according to media outlets reporting on the sale.

Switzerland-based Netstal is a leading supplier of injection molding machines to the beverage market (PET preforms and caps) as well as to the medical and thin-wall packaging markets. The company has been a strategic partner of Krones, a packaging and bottle machine maker based in Neutrabling, Germany, for several years.

Krones said in its release that Netstal reported more than €200 million in revenue in 2023 fiscal year and employs more than 500 workers. Netstal was acquired by Munich-based KraussMaffei in 1992, and in 2016 the Chinese chemicals group National Chemical Corp. purchased KraussMaffei. In 2018, it became the first German company to be listed on the Shanghai stock exchange. Earlier this year, KraussMaffei announced several changes in leadership.

Although Netstal’s profitability is “below the Krones Group level,” it said that the acquisition will benefit Krones in various ways. Netstal’s PET and Cap businesses complement Krones’ product portfolio for the beverage market, the company said in the news release. “With respect to PET closed-loop solutions, Krones then covers all technologies required from injection molding to PET container production through to filling/packaging and recycling. The medical and thin-wall packaging segments of Netstal support the Krones strategy to diversify into the medical/pharma market as well as into food and home-personal-care applications.” Netstal will retain its business responsibility within Krones, it added, while benefiting from its international scale. 

The The final signing of the transaction is scheduled for early February 2024, and it expects the transaction to be completed within the first half of this year.