Monday 03 October 2022

IMA: agreement signed for acquisition of 80% of Mapster and a stake in Petroncini

The IMA Group strengthens its offering in machinery for the Single Serve Coffee and Coffee Production sectors

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BOLOGNA, Italy – IMA, through its subsidiary GIMA, signed on Thursday (22 December 2016) an agreement to buy an 80% interest in Mapster  S.r.l.

The  company, which is based in Parma and owned by Messrs. Rolleri and Renda, is a major player in the design, manufacture and marketing of automatic machines for the filling and packaging of capsules for the “single serve” coffee sector.

Again through GIMA, IMA at the same time signed an agreement with the Giberti family for the acquisition of 49% of Petroncini Impianti S.p.A., with operations based in Ferrara, which is market leader in machinery for the production of coffee.

These acquisitions represent a significant strengthening of the IMA Group in the coffee sector, a market that is expected to see strong growth over the coming years.

This in addition to the commercial and manufacturing synergies expected from integrating these companies into the commercial network and subcontracting system of the IMA Group.

The Mapster deal involves a financial contribution due at the time of the closing (expected in the first quarter of 2017) of 2.4 million euros for its equity value.

In 2016, the business is expected to generate a consolidated turnover of about 7.5 million euros and an EBITDA of 0.5 million euros, with about 15 employees.

Petroncini, the parallel deal, involves a financial investment of 2.5 million euros that will give GIMA 49% of the company’s shares and an option to purchase a further 31%, to be exercised by the date of approval of the financial statements at 31 December 2017 and no later than 31 August 2018. In 2016, the business should generate a turnover of around 8 million euros and an EBITDA of 0.9 million euros, with 46 employees.

Commenting on this operation Alberto Vacchi, IMA’s Chairman and CEO, declared: “IMA already has a long-standing presence in the coffee sector through GIMA, its subsidiary: the simultaneous entry of Mapster and Petroncini will lead to the creation of a homogeneous group of companies, each of which is a leader in its own segment.

This will be unique anywhere in the world for a sector where a broad range of products is considered a key competitive factor.

Thanks to these deals, IMA will become the only supplier able to offer solutions for complete systems ranging from green coffee to the final packaging of roasted coffee in capsules and pods, in a bag containing a complete range of products, including secondary packaging, sharing customers and, above all, potential opportunities in the  provision of technology.

IMA is continuing in its growth policy based on the 2 enhancement of market-leading brands in order to achieve the appropriate size, in both industrial and financial terms, to meet the challenges that technological innovation requires of us.”

During these deals, IMA was advised by Poggi&Associati.

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