BOBST Increases Majority Stake in CITO GROUP After Management Changes
BOBST’s stake in CITO GROUP – one of the world’s market leaders in the field of creasing technology – has increased to 90%. This follows the retirement of CITO Managing Director Jürgen Mariën, who has sold his remaining shares to BOBST. BOBST first acquired a majority shareholding of 51% in CITO GROUP in 2020.
CITO is well known for providing an extensive range of components for the converting and die-making industries with expertise in paper, cardboard, and corrugated board. CITO’s unique offering of consumables and services are now fully part of the BOBST portfolio.
CITO will continue to run independently, led by members of its existing leadership team. Long-term Director of Sales and R&D Oliver Kellermann has been appointed co-Managing Director alongside existing co-Managing Director Thomas Gerner. They will continue to manage and oversee the day-to-day running of the company alongside René Seick, Director of Technology.
“This evolution will be completely seamless, with no disruption to the way CITO is run or to the provision of its very high standard of quality, consistency and services,” said Alex Volery, Tooling Division Director at BOBST. “For BOBST, CITO and our customers, this strengthened collaboration is very exciting, with two of the leading suppliers in the packaging and tooling industries working hand in hand. This allows even more co-development of innovative products, deeper connections between our two R&D departments, and ultimately even more value delivered for our customers. I am very excited to see what else we can achieve together.”
The preceding press release was provided by a company unaffiliated with Packaging Impressions. The views expressed within do not directly reflect the thoughts or opinions of the staff of Packaging Impressions.
