Packgaging equipment supplier, Multivac, has takes over the Frtisch Group and to expand its range of solutions for the bakery industry.
FRITSCH is a manufacturer of bakery equipment with its headquarters in the town of Markt Einersheim in Lower Franconia.
“The takeover of Fritsch is another important step for Multivac in expanding our range of integrated solutions for processing and packaging food products. Thanks to the processing solutions from Fritsch, we will continue to extend our presence in the bakery industry, where we have already been able in recent years to implement some very challenging projects for automated packaging solutions,” explained Christian Traumann, director and group CFO of Multivac.
In 2018 Fritsch generated a turnover of around 80 million euros and currently employs approx. 600 staff. In mid April of this year it filed for insolvency. Fritsch is represented by its own subsidiaries in the UK, Russia, Poland and the USA, and it also has a worldwide network of sales and service partners.
The integration of the company into the Multivac Group will begin immediately.
In addition to the management in place, a Multivac management team will be appointed to run the company, and this will direct and develop the Fritsch Group as a stand-alone business. “We are very pleased at the successful takeover of the Frtisch Group, and we are also convinced that our management will make an important contribution to the recovery of the company. Fritsch is an industry leader in bakery equipment and has an excellent reputation in the market. Thanks primarily to the integration of Fritsch products in Multivac’s line solutions, we see great synergy potential, which will make a major contribution to the healthy development of Fritsch in future,” says Guido Spix, director and group CTO/COO of Multivac.
Subject to approval under cartel legislation, the takeover of the Fritsch Group will take effect on 1st August 2019.