With new owners, Bosch Packaging Technology will stay focused on technology for the future, including Internet of Things (IoT) connectivity.

The Bosch Packaging Technology packaging machinery business—up for sale since June 2018—has been bought by leading private equity and investment advisory firm CVC Capital Partners, headquartered in Luxemburg (pending antitrust approvals). Both parties have agreed not to share certain details, including the purchase price. But executives have confirmed that business will continue as is—albeit as a more agile company focused on digitalization, mobility and Internet of Things (IoT) connectivity.

This was all part of the selling strategy. When it announced the pharmaceutical and food packaging machinery businesses were for sale last year, the Bosch Group itemized two reasons:

1. The packaging technology units were not part of the group’s core business, which is divided into four sectors—Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.

2. And, as explained in a press release, “The [packaging technology] company also operates in a competitive environment in which the players are small- and medium-sized enterprises (SMEs), and who are therefore at a structural advantage. Bosch is certain that its packaging technology operations need to be put on a different footing that will allow them to react more flexibly to the specific requirements of the packaging machinery market.”

About the deal, Alexander Dibelius, CVC Capital Partners managing partner, says, “Together with the management team, we will work to take the business forward in the years ahead, and to make it even more competitive.”

Moving forward, the company will continue to focus resources on “areas of future importance, such as shaping the transformation process and preparing for further digitalization,” as stated in a press release.

All 6,100 associates in 15 countries will remain with the company. Over the years, Bosch Packaging Technology has expanded by buying other companies and brands. The food and pharmaceutical processing and packaging machinery portfolio now includes Ampack, Doboy, Elematic, Hansella, Hüttlin, Klenzaids, Kliklok, Makat, Moeller & Devicon, Osgood, Pharmatec, SBM, Sigpack, Tevopharm, Togum, Valicare and Woodman.

Bosch Packaging Technology is not the first packaging-related business owned by CVC. The private equity firm has also invested in Anchor Glass and ÅR Packaging Group AB, manufacturers of glass, plastic and paperboard containers. The overall CVC portfolio spans various industries: Building/Construction, Business Services, Chemicals, Consumer/Retail, Energies/Utilities, Financial Services, Healthcare, Manufacturing, Media, Tech/Telecoms and Transportation/Infrastructure.

(Source:packagingdigest)