Pavan acquired by Germany-based GEA Group

The German group GEA, a supplier of technologies for the food and beverage industry listed on Deutsche Boerse, has acquired Italian firm Pavan, a leading manufacturer of integrated lines for processing fresh and dry pasta, snack pellets and breakfast cereals owned by Food Technologies (which in turn is controlled by Alpha Private Equity Fund 6 and the industrial holding company Idea Cinquanta).

Founded in 1946, Pavan is based in Galliera Veneta in the province of Padua and has around 680 employees at its various facilities in Italy and China. In 2016 Pavan posted revenues of around €155 million (and an EBITDA of €29 million), of which 40% was generated in Europe, 27% in America, 17% in Asia and 14% in Africa and the Middle East.

GEA Group, with 17,000 employees and a 2016 turnover of €4.5 billion, will incorporate Pavan into its Business Area Equipment division, where it will create a dedicated “Pasta, Extrusion & Milling” product group. Subject to approval by the relevant antitrust authorities, the transaction is expected to be completed during 2017.