Krones, a Germany-based packaging and bottling machine manufacturer, announced the ‘imminent’ acquisition of 100% of Switzerland-based Netstal. The supplier of injection moulding machines to the beverage market as well as to the medical and thin-wall packaging market is currently part of the KraussMaffei Group, which posted net losses of $48.9 million in the third quarter of 2023.
The final signing of the transaction is scheduled for beginning of February. Krones expects the transaction to be completed within the first half of 2024, it said in a Jan. 29 statement.