JBT Takes Another Step Toward Strengthening Its Poultry Business with the Acquisition of Prime Equipment Group

Posted by MarketsandMarkets on Jun 14, 2019 7:10:06 PM

As per a press release of the company, on April 30, 2019, John Bean Technology (JBT) acquired Proseal, a United Kingdom based, provider of tray sealing technology for the food industry, in a deal worth USD 246 million. JBT then acquired Prime Equipment Group, a US company dealing in primary and water re-use solutions for the poultry industry, for USD 65 million on June 5, 2019. Regarding these acquisitions, JBT CEO Tom Giacomini said, “The goal of JBT is to become full line solutions provider for poultry customers with the addition of the primary processing capabilities of Prime. The areas of automation and water re-use can be addressed by deep expertise, reputation, and high-quality products and services by Prime, combined with the strategy and winning culture at JBT.” Chicago-headquartered JBT expects that in 2019, both acquisitions would add anywhere between USD 80 million and USD 85 million to its revenue. The potential lies in leveraging JBT’s global reach as Prime’s annual revenue of USD 45 million is only from the US.

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Topics: Food and Beverage, poultry processing equipment market

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