Bosch is selling its Waiblingen, Germany-based packaging machinery business, which includes equipment used to package fresh produce, to Luxemburg-based CVC Capital Partners.
The deal is subject to approval by antitrust authorities, and is expected to close by the end of the year, according to a Bosch news release. Details of the deal are not being disclosed.
The company’s packaging technology business involves more than 6,000 employees in 15. There are four Bosch Packaging Technology facilities in the U.S.: Oldsmar, Fla., Minneapolis, Lindon, Utah, and New Richmond, Wis.
Bosch announced last year it was planning to sell its packaging businesses.
“Just under two years ago, we completely modified our strategy,” Stefan Konig, president of Robert Bosch Packaging Technology, said in the release. “It now includes working on a completely new range of smart and sustainable process and packaging technologies. This will allow us to offer our customers even more attractive product solutions and services in the future.”
CVC Capital Partners has a reputation of growing businesses, and has a background in industrial products, said Stefan Hartung, member of the managing board at Robert Bosch GmgH, Bosch Packaging Technology’s parent company.