Bosch Packaging Technology to be sold

Bosch plans to sell its packaging machinery business, based in Waiblingen, Germany, to a newly incorporated entity managed by CVC Capital Partners (CVC). The company and its Pharma and Food units will remain intact. Based in Luxemburg, CVC is a private equity and investment advisory firm with 24 offices in Europe, Asia and the United States, managing more than US$75 billion of assets.

The parties signed an agreement on 11 July 2019 effecting the transfer of the entire packaging technology business and its 6100 associates in 15 countries. The purchase price and other details of the purchase agreement will not be disclosed. The sale will be completed at the turn of the year, pending approval of various bodies including antitrust authorities.

Dr Stefan Hartung, member of the board of management at Robert Bosch Technology GmbH, regards the partnership with CVC as an opportunity for future success.

“With its experience in growing companies over the long term and its viable strategy for taking the division forward, CVC was the right choice for us. The growth concept it has presented, as well as the investments it plans to make, are very promising. We have found a reliable new owner with a long-term approach, under whose leadership the business can develop successfully,” Dr Hartung said.

Bosch is giving increasing attention to mobility and connectivity over the Internet of Things. It is focusing on shaping the transformation process and preparing for further digitalisation.