Handtmann acquires Inotec
The Handtmann Group has signed a purchase agreement to acquire Inotec.
The company said the purchase, still subject to approval by the Bundeskartellamt, the German Federal Cartel Office, will present better opportunities for growth and open up new industries.
Handtmann intends to build on this success of its filling and portioning systems division, Handtmann Maschinenfabrik, which with 800 employees generated sales of over 200 million euros in 2019. It is seen as a market leader for its main target group, the meat processing industry. Handtmann Maschinenfabrik is also attracting an increasing number of customers in other food sectors, such as baked goods.
Inotec manufactures mixing and emulsification technology as well as tying machines for the food processing sector. The Inotec Group employs around 270 people at four locations in Reutlingen (Baden-Württemberg), Herzebrock-Clarholz (North Rhine-Westphalia), Hluk (Czech Republic) and Saverne (France).
In 2019, the Group generated an annual turnover of over 30 million euros. In future, Inotec will belong to the filling and portioning systems division at Handtmann, where it will be continued in its current form. No change in the number of jobs is planned in connection with the acquisition. The current Inotec management team will continue to run the company’s day-to-day operations.
Handtmann added that together with Inotec, it will be in a position to offer complete production lines from a single source and in an alliance that is “unique in our competitive environment”.
“The “Best Brand” alliance between Handtmann and Inotec will bring enormous advantages for both companies when it comes to winning new customers and projects all over the world, and open up very positive prospects of growth for us, cMarkets, customers and competition in the food industry are changing at breakneck speed. It can be observed, above all, that companies operating in the food processing machinery sector are merging in order to be able to offer their customers a wider range of products from a single source. Especially those companies that offer complete overall solutions have particularly high potential in this respect.”
Another reason for the close future cooperation are the improved sales opportunities. The merger gives Handtmann the opportunity to develop a global presence as a major provider, added Frank Gekeler, managing director and co-founder of Inotec.