CHICAGO, July 17, 2015 /PRNewswire/ -- JBT
Corporation (NYSE: JBT), a global technology solutions provider
to the food processing and air transportation industries, announced
today the signing of a definitive agreement to acquire the shares
of Stork Food & Dairy Systems B.V. ("SFDS" or the "Company"), a
leading filling and sterilization solutions provider. The
purchase price will be €47 million, before customary post-closing
adjustments. The transaction is expected to close in the
third quarter of 2015.
Stork Food & Dairy Systems B.V., located in Amsterdam, The Netherlands, develops, produces
and supplies integrated aseptic processing / sterilization and
filling systems to the beverage and food processing industries.
The Company specializes in extending the shelf life of
packaged foods commonly found on supermarket shelves and in
restaurants around the world, including white milk, flavored milk,
coffee drinks, cream, yogurt, desserts, fruit juices, soups and
sauces. The Company's large installed base also generates a
significant level of recurring income.
"We are very excited to add complementary aseptic and thermal
processing and filling technologies to JBT's Liquid Foods product
portfolio," stated Steve Smith,
Executive Vice President and President of JBT FoodTech. "This
acquisition will significantly strengthen our ability to provide
complete solutions to our customers in the global liquid foods
industry. We also are very pleased to welcome the Company's
employees to the JBT family."
Marc Renne, Managing Partner at
Nimbus, the private equity firm that was the previous owner of
Stork Food & Dairy Systems B.V., noted, "I am proud that JBT, a
company with a demonstrated commitment to liquid foods, has
acquired SFDS. This transaction secures a strong future for
the Company, which we believe is in the best interest of its
customers and employees."
Tom Giacomini, JBT's Chairman,
President and Chief Executive Officer added, "Stork Food &
Dairy Systems B.V. will be our second acquisition in the liquid
foods sector, following the purchase of ICS Solutions in
2014. These two acquisitions, along with our purchase of
Formcook AB and Wolf-tec, Inc., in 2014, support our Next Level
strategy of acquiring leading companies that strengthen our protein
processing and liquid foods portfolios."
JBT Corporation (NYSE: JBT) is a leading global technology
solutions provider to the food processing and air transportation
industries. JBT Corporation designs, manufactures, tests and
services technologically sophisticated systems and products for
regional and multi-national industrial food processing customers
through its JBT FoodTech segment and for domestic and international
air transportation customers through its JBT AeroTech
segment. JBT Corporation employs approximately 3,600 people
worldwide and operates sales, service, manufacturing and sourcing
operations located in over 25 countries. For more
information, please visit
www.jbtcorporation.com.
This release contains forward-looking statements as defined
in the Private Securities Litigation Reform Act of 1995.
Forward-looking statements are information of a non-historical
nature and are subject to risks and uncertainties that are beyond
the Company's ability to control. These risks and
uncertainties are described under the caption "Risk Factors" in the
Company's 2014 Annual Report on Form 10-K filed by the Company with
the Securities and Exchange Commission that may be accessed on the
Company's website. The Company cautions shareholders and
prospective investors that actual results may differ materially
from those indicated by the forward-looking statements.
To view the original version on PR Newswire,
visit:http://www.prnewswire.com/news-releases/jbt-corporation-acquires-leading-liquid-foods-solutions-provider-300114834.html
SOURCE JBT Corporation