Frankfurt/Main – The Bobst Group SA, which is based in Mex (Switzerland), has taken a strategic majority shareholding (51%) in CITO-SYSTEM GmbH of Schwaig near Nuremberg. By joining forces, the parties aim to leverage the strengths of the two companies to drive innovation in tool making and in packaging production worldwide. CITO-SYSTEM’s management holds the other 49% of the company and will continue to run the business, retaining the existing brands and sales structures.
A CMS team headed by lead partner Dr Hendrik Hirsch advised the Bobst Group on all legal aspects of the transaction. This included legal due diligence, the structuring of the transaction, contract negotiations and support around notifying the competition authorities.
The Bobst Group is one of the world’s leading suppliers of substrate processing, printing and converting equipment and services for the label, flexible packaging, folding carton and corrugated board industries. Established in 1890 by Joseph Bobst in Lausanne (Switzerland), Bobst has a presence in more than 50 countries. It operates 16 production sites across 8 countries and employs more than 5,500 people worldwide. The Group posted consolidated sales of CHF 1,636 million in the 2019 financial year.
CITO-SYSTEM is a privately owned company with international operations and is headquartered in Schwaig near Nuremberg. It is a leader in creasing systems used in the packaging industry. The company has its roots in a cardboard packaging business founded in 1906. CITO-SYSTEM is regarded as an expert in the manufacture of packaging made of paper, cardboard and corrugated board. It supplies corrugated board converters, display manufacturers, folding box firms, die makers and printers on all continents. CITO-SYSTEM employs 240 people.
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