On 10 February 2011 IMA, world leader in the production of automatic packaging machines for the pharmaceutical and tea industries, finalised its acquisition of the “Dairy & Convenience Food” sector of the Sympak Corazza Group, as previously announced on 14 October 2010.
The agreed acquisition price amounts to 57.5 million euros, all of which was paid at the time that ownership of the shares was transferred. Approximately 6 million euros of debt was also taken on at the time of the closing.
On the same date, 10 February 2011, IMA also acquired from Sympak Corazza, through a wholly-owned subsidiary CMH, 100% of OPM, which runs the packaging side of the “Chocolate & Confectionery” sector, partly through FIMA, a 70%-held subsidiary. This purchase was carried out through a vehicle company to assess possible strategic alliances in this business.
The price agreed by the parties comes to 6.5 million euros, all of which was paid at the closing, also taking on approximately 2 million euros of debt. The deal was financed by UniCredit to the extent of 4.5 million euros.
The 2010 consolidated financial statements of OPM show sales of around 50 million euros, an EBITDA of around 2 million euros and a net financial position that is negative for around 2 million euros.