German offset press giant Koenig & Bauer (KBA) has initiated plans for a 100 per cent takeover of a Spanish sheet fed die-cutter manufacturer as part of the company’s strategy to grow its packaging business.  

KBA recently finalised a letter of intent to acquire Iberica AG SA, which has around 60 staff and large format flatbed die-cutters for the production of board and corrugated packaging.

CEO of Iberica’s parent company, Officine Meccaniche G Cerutti SpA, Dr Giancarlo Cerutti says it has accepted the proposal.

He adds, “We enjoy with KBA an old and consolidated relationship that is based on mutual esteem and cooperation. I’m sure that Iberica will benefit from further possibilities of growth and development in KBA.”

News of the proposed takeover follows after KBA revealed plans to grow its packaging business. In its first quarter results announcement, the press giant attributed growth experienced across all three of its business segments to a booming packaging print market, which it says was responsible for 70 per cent
of total sales.

KBA CEO Claus Bolza-Schunemann comments, “Sheetfed offset presses from KBA-Sheetfed have an outstanding position worldwide for folding carton printers.

“With this in mind, adding flatbed die-cutters to our portfolio for the same customer group makes perfect sense. 

“The takeover and further development of Iberica through KBA corresponds to the strategic interests of both companies and we are confident that we will soon come to an agreement with the Cerutti Group given our longstanding solid company relationship.”  

The companies involved will not disclose further details of the acquisition until negotiations are complete, a time frame for this has not been provided.   

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