JBT Corp. to acquire Proseal
Tray sealing is a packaging technology used across a broad spectrum of food products, including ready meals, fresh produce, sandwiches and proteins.
JBT Corp., Chicago, announced plans to acquire Proseal UK Ltd., a UK-based provider of tray sealing technology for the food industry, with additional production facilities in Richmond, Va., and Melbourne, Australia.
"The acquisition of Proseal represents an important expansion of JBT's capabilities, adding significantly to our end-of-line market position and advancing our strategy of providing full-line customer solutions," says Tom Giacomini, JBT's chairman, president and CEO. "Moreover, we believe Proseal's technology affords growth opportunities around the globe."
"Tray sealing is relevant to many of our FoodTech customers, particularly in the rapidly expanding market for convenience foods," adds Carlos Fernandez, JBT's executive vice president and president, liquid foods.
The acquisition of Proseal is expected to add approximately $100 million of annual revenue.