JBT Corporation (NYSE: JBT), the global technology solutions provider to high-value segments of the food & beverage industry, has announced the acquisition of FTNON, a leading equipment specialist for the fresh produce, ready meal, and pet food sectors.
JBT purchased the Almelo, Netherlands-based company, which has a presence in more than 60 countries and provides a range of state-of-the-art technology for food processors including pre-cleaning, produce preparation and mixing systems, for €32 million before customary post-closing adjustments.
Tom Giacomini, JBT’s Chairman, President and Chief Executive Officer, said: “FTNON provides us entry into the fresh cut equipment market, tapping the rapidly expanding demand for ready-to-eat fresh produce.
“It also brings robotic technology for cutting, coring, and peeling fruits and vegetables – a valuable capability that reduces customers’ labor requirements. As part of JBT, we foresee opportunities to expand FTNON’s global penetration, grow its aftermarket business, and enhance profitability.”
The acquisition of FTNON is expected to add annual revenue of approximately $30 million to JBT’s FoodTech business, which already provides a wide range of technology and processing solutions to the fresh produce sector, including labelling and cleaning systems.
For more information, please visit www.jbtc.com.