Bobst Purchases Fischer & Krecke Shares
BIELEFELD, Germany—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). The agreement affects the shares in Fischer Beteiligungsgesellschaft mbH, a majority shareholder of Fischer & Krecke GmbH & Co. KG, as well as Maschinenbau Wilhelm Kochsiek GmbH. As a result of the acquisition, Bobst plans to amend and extend its existing portfolio for printing machines.
Dietrich Bernhard Grautoff, majority shareholder and chairman of the advisory board of Fischer & Krecke said, “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 future of the company. With this decision the future product development, securing of buying markets, and further enlargement of worldwide distribution, as well as the necessary funding can be most likely ensured. 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 Georg Grautoff and Andreas Kückelmann. Both will remain members of the management board. Dietrich Bernhard Grautoff will be connected with the company as member of the advisory board in the future, as well.
The sale and purchase agreement was signed on Sept. 20, 2007. It is subject to the approval of the merger control authorities.
