The management board of Heidelberg agreed to take over remaining 70% of Gallus shares which is controlled by Ferdinand Rüesch. Heidelberg already had 30% stake in Gallus Holding AG.
After the completion of the transaction, Heidelberg will directly and indirectly hold 100 % of the shares in Gallus Holding AG. Gallus is a major supplier in the packaging industry for labels and folding boxes. In 2013, the Group generated a turnover of CHF 188 million with approx. 500 employees.
The planned complete takeover of Gallus Holding AG accelerates the development and use of Heidelberg’s digital products in the growing labels sector. In fall this year, Heidelberg and Gallus will be unveiling a new digital printing system for the label market that incorporates Fujifilm technology. By acquiring approx. 9 percent of Heidelberg shares in consideration for the Gallus stake, Ferdinand Rüesch will also become a new strategic anchor investor of the company. At the same time, Heidelberg is strengthening its capital structure, which will support the company’s strategic reorientation.
“We are very proud to have won Ferdinand Rüesch as anchor investor with long-standing sector knowledge,“ said Heidelberg CEO Gerold Linzbach. “The full acquisition of Gallus will further enhance the cooperation of the two companies. Together, we will continue to foster the development in the growing market for digital label production.”
Heidelberg undertakes, in consideration for the holding in Gallus Holding AG that will be contributed by Ferd. Rüesch AG, to issue up to 23,000,000 new shares and make a cash payment in the amount of a single-digit EUR million sum.