JBT Corp. acquires Prime Equipment Group, Inc.
Prime Equipment Group manufactures turnkey primary and water re-use solutions to the poultry industry.
JBT Corp., Chicago, acquired Prime Equipment Group, Inc., a Columbus, Ohio-based manufacturer of turnkey primary and water re-use solutions to the poultry industry, for $65 million.
"The acquisition of Prime advances our goal of becoming the preferred provider of full line solutions for poultry customers with the addition of Prime's primary processing capabilities," says Tom Giacomini, JBT's chairman, president and CEO. "Prime's deep expertise, reputation and high-quality products and services complement our strategy and winning culture at JBT."
"Prime's latest technologies address pressing needs in the poultry industry in the areas of automation and water re-use, which will further strengthen our customer relationships," says Paul Sternlieb, JBT's executive vice president and president, protein. "Prime's annual revenue of approximately $45 million is primarily concentrated in the U.S., and we look forward to leveraging JBT's global reach to accelerate the deployment of the automation and water technology for growth outside the U.S."