On December 31, 2020, GEA has closed the sale of Japy Tech SAS (formerly GEA Farm Technologies Japy SAS) and Royal De Boer Stalinrichtingen B.V. to Mutares SE & Co. KGaA that was contractually agreed in November 2020.
French company Japy Tech SAS produces milk cooling tanks in Dijon, France. Royal De Boer Stalinrichtingen B.V. is a leading European manufacturer of barn equipment based in Leeuwarden, the Netherlands. GEA will retain access to the product portfolios of both companies so that it can continue to meet individual customer needs in the future. The two companies achieved combined revenues of around EUR 50 million in 2019. The parties have agreed not to disclose financial details of the transaction.
