Koenig & Bauer (K&B) has bought an 80% stake in the folder-gluer business of manufacturer Duran Machinery in a deal that will enable K&B to offer a complete folding box production line.
The deal between the German press manufacturer and Istanbul, Turkey-based Duran Machinery will see all 50 employees in Duran's folder-gluer division transfer and become integrated into the K&B group as Koenig & Bauer Duran.
The new entity will be owned 80% by K&B and 20% by Duran, with the latter's managment team also transferring in the deal.
Combining K&B’s Rapida sheetfed presses, its Iberica flatbed die-cutters, and folder-gluers from Duran, K&B aims to offer a complete line for the printing and processing of folding boxes from a single source, making significant headway in its targeting of the packaging market. The purchase price of Duran was described as “in the upper single-digit million-euro range”.
A K&B spokesperson said in a statement: “For more than 30 years, Duran Machinery has been developing, manufacturing and distributing folder-gluers in various formats and configurations. Its technologically solid and customer-oriented Omega folder-gluers are one of the leading brands in the global folding carton industry.
“This expansion of K&B’s portfolio in the growing packaging market will enable the company to offer its highest sales customer group, folding carton manufacturers, a full range of products for printing, die-cutting and gluing folding cartons from a single source.
“Koenig & Bauer's reputation among packaging printers, its brand philosophy and the integration of the folder gluer business into its worldwide sales and service network will significantly enhance the opportunities for revenue growth and market share gains in this attractive, high-margin business.”
K&B chief executive Ralf Sammeck praised Duran for having “set new standards and successfully strengthened its position among [K&B’s] customers” in recent years.
With a market reach spanning 65 countries, Duran machines are sold in the UK by Hemel Hempstead-based distributor Friedheim International. It recently supervised the UK launch of the Alius range of folder-gluers, which begin shipping early next year.
Friedheim confirmed that it would continue to be Duran's sales representative in the UK.
Converting division national sales manager John Harrison said: “Duran speciality folder gluers are amongst the most versatile and high quality folder gluers for the carton and corrugated industry. Our partnership with them has led to the development of many new technologies through collaborations with some of the UKs most prominent companies.
“Friedheim International remains the UK agents for Duran and will be concentrating our efforts to the UK trade finishers and the corrugated industry in general. We are looking forward to the cooperation with Koenig & Bauer’s new venture in the carton industry.”
Turkish manufacturer Duran is reportedly number two in the global folder-gluer market, with a share of around 6% in a market worth around €250m (£223m) in total volume.