The IMA Group completes its range of machinery for the coffee sector

IMA has signed an agreement to buy 70% of Spreafico Automation S.r.l. The company, based in Calolziocorte, Lecco, and owned by the Spreafico family, is an important player in the design, production and marketing of automatic machines for filling and preparing single-serve capsules for coffee and other soluble products.

IMA has also signed an agreement with Messrs. A. Bianchi and N. Bustamante to buy 61.45% of Tecmar S.A. The company, based in Mar del Plata (Argentina), is an important player in the Latin American market in the design, production and marketing of automatic packaging machines in the coffee and food sectors.

These acquisitions significantly strengthen the IMA Group's presence in the coffee sector, a market that is expected to grow strongly in the coming years. To this will be added the commercial and production synergies expected from integration of these two companies with the IMA Group's sales network and sub-contracting system.

The Spreafico Automation operation envisages a financial outlay at the closing (scheduled for April 2019) of 9.6 million euros for the enterprise value. The company estimates for the financial year 2018 a turnover of more than 16.5 million euros and an EBITDA of approximately 2.5 million euros, with 45 employees.

IMA has also been granted a purchase option, exercisable in April 2028, for the other 30% of Spreafico Automation.

The Tecmar operation envisages a financial outlay at the closing (scheduled for April 2019) of 1.3 million euros for the enterprise value. The company estimates for the financial year 2018 a turnover of approximately 4.5 million euros and an EBITDA of approximately 0.5 million euros, with 52 employees.

IMA has also been granted a purchase option, while minorities have been granted a sale option, exercisable in April 2024, for the other 38.55% of Tecmar.

In commenting these operations, Alberto Vacchi, IMA's Chairman and CEO, has declared: «IMA already has a consolidated presence in the coffee sector. Simultaneous entry into Spreafico Automation and Tecmar allows us to complete the range of products that we can offer and significantly strengthen our positioning in the Latin American market, which is expected to grow strongly in the coming years».