JBT Corp. purchases Avure

by MEAT+POULTRY Staff
Share This:
Search for similar articles by keyword: [Packaging]

 JBT
The acquisition will bring in $50 million in extra revenue.
 

CHICAGO – JBT Corporation announced its purchase of Erlanger, Kentucky-based Avure Technologies Inc., a leading provider of high pressure processing (HPP) systems, for $57 million. According to JBT, the acquisition of Avure should bring in approximately $50 million of additional annual revenue.

Transaction costs and purchase price accounting associated with the acquisition are expected to more than offset earnings generated under JBT ownership in 2017, with approximately $0.05 per share of dilution for the year. The company anticipates earnings accretion of $0.07 to $0.12 per share for 2018 and $0.12 to $0.17 per share for 2019.

"We are excited about the rapidly expanding market adoption of HPP across protein and liquid foods," said Steve Smith, president of JBT FoodTech. "With the addition of Avure, JBT will be able to offer comprehensive thermal and non-thermal preservation solutions."

Avure is a privately held company with a manufacturing center in Middletown, Ohio.

"As part of JBT, Avure will benefit from our global salesforce, service support and extensive customer relationships, as well as our commitment to developing solutions that maximize customer profitability," said Tom Giacomini, JBT's chairman, president and CEO.

 
Comment on this Article
We welcome your thoughtful comments. Please comply with our Community rules.

 

 


The views expressed in the comments section of Meat and Poultry News do not reflect those of Meat and Poultry News or its parent company, Sosland Publishing Co., Kansas City, Mo. Concern regarding a specific comment may be registered with the Editor by clicking the Report Abuse link.