Heidelberger Druckmaschinen AG has announced it will take ownership over the 70% of shares in label press maker Gallus it does not already own. Swiss group Ferd. Rueesch AG, the previous owner of Gallus, will become its new anchor investor, acquiring about a 9% stake, and will contribute its 70%stake in Gallus as contribution in kind against the issue of new Heidelberg Druck shares.
The planned complete takeover of Gallus accelerates the development and use of Heidelberg’s digital products in the growing labels sector. Later this year, Heidelberg and Gallus will be unveiling a new digital printing system for the label market that incorporates Fujifilm technology. At the same time, Heidelberg is strengthening its capital structure, which will support the company’s strategic reorientation.
After the completion of the transaction, Heidelberg will directly and indirectly hold 100% of the shares in Gallus Holding AG. In 2013, the Gallus Group generated a turnover of CHF 188 million with approximately 500 employees.
In addition, Heidelberger Druck agreed to pay a single-digit million euro amount in cash to Ferd. Rueesch.
“We are very proud to have won Ferdinand Rüesch as anchor investor with long-standing sector knowledge,” says Heidelberg CEO Gerold Linzbach. “The full acquisition of Gallus will further enhance the cooperation of the two companies. Together, we will continue to foster the development in the growing market for digital label production.”