Aga Foodservice Group announced recently the acquisition of Germany-based combi oven maker Eloma, for approximately US$12.81 million in cash, from the German equipment-manufacturing group Gustatus. Eloma specializes in the manufacturing of combi steaming ovens and bakery ovens, and currently holds over 25% of the German market and 5% of worldwide combi and baking oven sales. The Eloma factory is located in Dresden, eastern Germany, and the company also has sales offices and a development center in Munich, Germany.

The move is expected to boost Aga Foodservice's European and North American operations. "In North America, Eloma fits with our investment strategy of integrating innovative, energy-efficient companies into our group," commented Iain J. Whyte, president of Aga Foodservice, Inc. "This acquisition continues to align our portfolio of foodservice equipment offerings more closely with the needs of the U.S. market."

Eloma was founded in 1976 and has evolved over the past 30 years by consistently delivering results for foodservice customers worldwide. In 1982, the company moved into thermal appliance technology and, in 2003, it launched its Multimax and Genius brands, providing a strong, respected platform in the combi market.

"Being able to provide customers and specifiers with an integrated line of foodservice equipment in North America is our priority when we evaluate bringing new products or companies to market. Eloma will fit positively with other recent group acquisitions, such as Stellar Steam, producer of the most innovative line of boilerless steamers," related Mark Whalen, president of Aga Foodservice Equipment in North America. "The U.S. market is a pivotal element in our plan to grow Eloma's business," he added.