Proseal to be acquired by JBT
Proseal, British provider of tray sealing technology to the food industry, is to be acquired by Chicago-based machinery manufacturer JBT Corporation. According to a press statement, the latter has a definitive agreement to purchase the company for a price of approximately 220 million British pounds (about 257 million euros), subject to regulatory approvals.
Access to global network
JBT (John Bean Technologies) is a technology solutions provider to the food processing and air transportation industries. In 2018, the group reportedly achieved a total revenue of 1.92 billion US-dollar (about 1.71 billion euros). The deal is said to allow Proseal to further expand its business by providing access to JBT’s global sales and service network. Closing is expected in the second quarter of 2019.
Brand will be retained
Established in 1998, the British company reportedly employs 350 staff in Adlington, Cheshire, with additional facilities in Richmond, Virginia/USA and Melbourne, Australia. Under the terms of the deal, the management team which is led by the founders - Steve Malone and Robert Hargreaves – are said to remain in place. The Proseal brand reportedly will be retained.