JBT Corporation acquires Stork Food & Dairy Systems for €47m
The transaction is expected to close in the third quarter of 2015.
Stork Food & Dairy Systems 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 shelf life of packaged foods found on supermarket shelves and in restaurants, including white and flavoured milk, coffee drinks, cream, yogurt, desserts, fruit juices, soups and sauces.
Complementary capabilities
Steve Smith, executive vice president and president of JBT FoodTech, said the deal would add complementary aseptic and thermal processing and filling technologies to JBT's Liquid Foods product portfolio.
"This acquisition will significantly strengthen our ability to provide complete solutions to our customers in the global liquid foods industry."
Tom Giacomini, JBT's chairman, president and CEO, said Stork Food & Dairy Systems was its second acquisition in the liquid foods sector, following ICS Solutions in 2014.
“These two acquisitions, along with our purchase of Formcook and Wolf-tec, Inc., in 2014, support our next level strategy of acquiring leading companies that strengthen our protein processing and liquid foods portfolios."
Marc Renne, managing partner at Nimbus, a private equity firm and previous owner of Stork Food & Dairy Systems, said: “This transaction secures a strong future for the company, which we believe is in the best interest of its customers and employees."
IBA presence
Meanwhile, JBT is adding to its Frigoscandia line of spiral freezers and chillers by introducing the GYRoCOMPACT 60 Spiral Freezer which will be exhibited at IBA 2015 in Munich in September.
The drive power has been reduced by 65%, compared to previous generation of GYRoCOMPACT M6 and Classic 600 Spiral Freezers, resulting in low energy consumption and less risk of problems to the freezer’s components.
The GYRoCOMPACT 60 Spiral Freezer can freeze up to 1,400kg per hour of fully baked brötchen.
