Corporate press release
GEA enters into exclusive negotiations with Syclef to sell its refrigeration contracting and service operations in France
21 Sep 2021
GEA entered into exclusive negotiations regarding the potential sale of its refrigeration contracting operations in France to Syclef, a leading French company specializing in the installation and maintenance of industrial and commercial refrigeration systems. The potential transaction marks the conclusion of GEA’s portfolio review that was initiated in 2019. Both parties have agreed not to disclose the financial details of the possible sale.
GEA Refrigeration France SAS, based in Les Sorinières (near Nantes), provides customized refrigeration solutions for industrial customers. The company, with about 230 employees, generated revenues of about EUR 75 million in 2020. The company is well established in the French market. However, it does not sustainably reach margin targets set by GEA for this type of business. The potential transaction does not affect GEA’s compressor selling business in France, which retains its strategic importance and will be retained by GEA. After the divestiture, the focus in the French market will be on selling compressors and related equipment to packagers and contractors.
The transaction remains subject to the information and consultation process of the relevant employee representative bodies in accordance with applicable laws as well as approval by antitrust authorities. A potential closing is not expected before Q1 2022.
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About GEA
GEA is one of the world’s largest suppliers of systems and components to the food, beverage and pharmaceutical industries.
The international technology group, founded in 1881, focuses on machinery and plants, as well as advanced process technology, components and comprehensive services. For instance, every second pharma separator for essential healthcare products such as vaccines or novel biopharmaceuticals is produced by GEA. In food, every fourth package of pasta or every third chicken nugget are processed with GEA technology.
With more than 18,000 employees, the group generated sales of about EUR 5.5 billion in more than 150 countries in the 2025 fiscal year. GEA plants, processes, components and services enhance the efficiency and sustainability of customers’ production. They contribute significantly to the reduction of CO2 emissions, plastic usage and food waste. In doing so, GEA makes a key contribution toward a sustainable future, in line with the company’s purpose: ”Engineering for a better world.”
GEA is listed on the German MDAX, the European STOXX® Europe 600 Index and is also a constituent of the leading sustainability indices DAX 50 ESG, MSCI Global Sustainability and Dow Jones Best-in-Class World.
