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JBT buys food preservation equipment provider

JBT Corp said it has purchased the ICS Solutions business from Stork Food and Dairy Systems.

ICS Solutions, located in Amsterdam, The Netherlands and Gainesville, GA (USA.), is a worldwide leader in the engineering, installation and servicing of high-capacity food preservation equipment.

ICS´ Hydromatic continuous sterilizer is a premier in-container system used to sterilize a broad range of foods, including beverages and dairy products. ICS enjoys a large, worldwide installed base providing a strong source of recurring revenue.

The purchase price was approximately EUR26m, before customary post-closing adjustments.

JBT is a leading global technology solutions provider to the food processing and air transportation industries.

Source: http://www.financial-news.co.uk - 2 July 2014