GEA signed an agreement to acquire Italian cake and pastry industrial processing equipment and solutions provider Comas.
Comas will join the business area Solutions in the new GEA set-up to form the new application center for bakery. The acquisition fits the GEA 2020 target footprint and enables the group to further strengthen its leading position in sophisticated process technology for the food industry.
Comas has 155 employees and generated revenues of about €50 million (US$55.78 million) in fiscal year 2014 mainly in the European and Asian markets.
The Company’s profitability is above GEA average.
The transaction remains subject to approval by the anti-trust authorities.
