KBA Completes Takeover of Iberica
The takeover of Spanish diecutter producer Iberica by German press manufacturer KBA, which was announced on May 23, 2016, is now complete with the signing of the purchase agreement by Officine Meccaniche G. Cerutti (OMGC) from Italy. The KBA Group has expanded its extensive portfolio for packaging customers in print finishing with the acquisition of the diecutter manufacturer based in Barcelona. Iberica, with approximately 60 staff members, produces medium and large-format flatbed diecutters for board and corrugated packaging. KBA has been active in this market successfully for some time with its presses. The takeover and integration of Iberica underscores the global KBA Group’s focus on growth markets and greatly improves the Spanish diecutter's growth prospects. The parties agreed not to disclose the purchase price or further details regarding the takeover. OMGC was advised by Fredericks Michael & Co. during the transaction.