JBT Corp., Chicago, purchased the assets of Wolf-tec, Inc., a Kingston, N.Y.-based equipment manufacturer providing processing solutions for poultry, beef, pork and seafood, for $54 million. Wolf-tec's protein processing technologies focus on ingredient preparation, blending, injection, marination, massaging and portioning, as well as turn-key solutions encompassing high levels of automation to the protein processing industry.
The addition of Wolf-tec enables JBT to better meet customers’ needs through an expanded portfolio of protein processing equipment and solutions. It also provides JBT further entry into beef, pork and seafood processing, where Wolf-tec has a stronger presence.
"In addition to the highly complementary fit of our product lines, Wolf-tec brings a strong brand presence, excellent technology and an exceptional reputation for sales and customer support," says Steve Smith, executive vice president and president. "Moreover, the company has outstanding management and team members who we are excited to welcome to our JBT family."
"Our equipment is frequently utilized in line with JBT's portioning, cooking and freezing solutions by our customers on the same production line," adds Ralf Ludwig, chief executive officer of Wolf-tec. "Now we will go to market with a more complete solution, and in addition, JBT's global reach presents significant future growth opportunities. I am thrilled to join the JBT team, and enthusiastically look forward to furthering Wolf-tec's legacy of innovation and strong technology solutions."
"Wolf-tec is our third acquisition in 2014, following the purchases of ICS Solutions and Formcook AB earlier this year,” adds Tom Giacomini, JBT's chairman, president and CEO. “All three support our strategy of acquiring leading companies that strengthen our protein processing and liquid foods portfolios."