JBT Corporation, an American food processing machinery company, has signed an agreement to purchase A&B Process Systems (A&B), a leading provider of processing systems for the food and beverage industry, for $102 million.
Located in Stratford, WI, A&B specializes in the design, manufacturing, automation and installation of liquid foods turnkey production systems. This acquisition, combined with JBT's recently completed acquisition of Stork Food & Dairy Systems, strengthens JBT's liquid foods portfolio. A&B also brings a large field service operation that will strengthen JBT's installation and aftermarket business.
JBT says it will expand the geographical reach of A&B’s portfolio which currently is limited to the U.S. and Canada.
Tom Giacomini, JBT's Chairman, President and Chief Executive Officer, noted, "
“We are very pleased to welcome A&B to the JBT team, bringing with it a rich history of serving the food processing industry for more than 40 years,” said Tom Giacomini, JBT chairman, president and CEO. “This transaction – like the four companies we acquired over the past year and a half – supports our Next Level strategy of acquiring leading companies that strengthen our protein processing and liquid foods portfolios. While we have significantly exceeded our Next Level 2017 acquisition growth target, we will maintain our disciplined pursuit of strategic opportunities."
The transaction is expected to close in the fourth quarter of 2015.