JBT to acquire Cooling and Applied Technologies, Inc.
Food processing equipment supplier JBT Corporation announced this week it has signed a definitive agreement to purchase the assets of Cooling and Applied Technologies (C.A.T.), Inc. for $90 million.
Located in Russellville, AR, privately held C.A.T. is a leading manufacturer of value-added food solutions, primarily for the poultry industry — focusing on chillers, injection, marination, weighing, freezing, and refrigeration systems.
“The addition of C.A.T. enhances JBT’s presence in primary and secondary protein processing and advances our strategic acquisition program in Proteins and Liquid Foods,” says Tom Giacomini, JBT's chairman, president and CEO. “The C.A.T. team brings deep technical knowledge, an excellent reputation, and strong relationships within the poultry industry, enhancing JBT’s value proposition in the domestic market. As part of JBT, C.A.T. will access our global sales and service organization, driving geographic expansion of their technology.”
The transaction is expected to close in the fourth quarter of 2016, subject to regulatory approval and other customary closing conditions.