Food Technologies, a subsidiary of Alpha Private Equity Fund 6 and the industrial holding company Idea Cinquanta, sold 100% of the Pavan Group to GEA Group, an international player active in the development and delivery of advanced process technologies and components, food and beverage, listed on Deutsche Stock Exchange.
Founded in 1946 and headquartered in Galliera Venta (PD), the Pavan Group, which closed the fiscal year 2016 with a consolidated turnover of 155.5 million euros, has a staff of approx. 700 people and is active worldwide in the design, manufacture and installation of integrated lines for the production of cereal-based foods, from handling raw materials to final packaging. It operates in over 130 countries and has a predominantly Italian production base, which has 7 plants.
Andrea Cavagnis (in the picture), who has led the group for the past 25 years, will continue to serve as chairman of the Pavan Group.
With a consolidated turnover of € 4.5 billion in 2016, GEA Group AG, based in Dusseldorf, is active worldwide in the technology market in the advanced process industry, with a focus on the food and beverage segment, which generates beyond 70% of Group revenues. With a staff of approx. 17,000 people, the Group is already present in Italy with nine production poles in different cities (Parma, Castel Maggiore, Colognola ai Colli, Grumello del Monte, Sala Baganza-two centers, Peveragno, Segrate and Torrebelvicio-Pieve).
Andrea Cavagnis, Chairman of the Pavan Group, said, "Many people have asked me what this means. For more than 70 years, Pavan has developed a business model consistent with global market demand, always pursuing sustainable long-term goals. Our belief is that this model is no longer viable independently because the markets have become global and the need for resources to stay competitive and further develop the business grows every day. We chose to support this new development phase by joining the GEA Group because we believe it is the best partner to develop the potential of Pavan, by guaranteeing a coherent strategy, a branching and efficient organization, important economic resources. GEA is strongly committed to supporting this pathway that gives continuity to the technical and strategic choices of the last decades with the aim of always offering the best technology and the best customer service".
GEA Group is one of the leading suppliers of the food processing industry and a wide range of other process industries. As an international technology group, the company focuses on process technology and components for advanced production processes in various outlet markets.
Daniele Toni