Heidelberg to have complete ownership over Gallus
Heidelberg in 1999 acquired a 30% stake in family-owned Gallus, and part of the deal included the option to eventually buy the rest of the label and packaging press specialist.
17 Jun 2014 | 4268 Views | By Anand Srinivasan
It has now agreed a deal with Gallus owner Ferdinand Rüesch AG, which will swap its 70% stake in Gallus for new shares in Heidelberg, taking a 9% stake in the press manufacturer as a result.
“The planned complete takeover of Gallus Holding AG will accelerate the development and use of Heidelberg's digital products in the growing labels sector,” said Gerold Linzbach, CEO, Heidelberg.
"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,” he added.
Switzerland-headquartered Gallus reached a sales of CHF188m last year.
Later in the fall of 2014, post the deal Heidelberg and Gallus will be unveiling a new digital printing system for the label market that incorporates Fujifilm technology.