JBT Corporation Acquires Cooling and Applied Technologies

JBT Corporation, a global technology solutions provider for the food and beverage industry, announced it has signed a definitive agreement to purchase the assets of Cooling and Applied Technologies (C.A.T.), Inc.

The purchase price is USD90m, before customary post-closing adjustments. The transaction is expected to close in the fourth quarter of 2016.

Located in Russellville, AR, privately held C.A.T. is a leading manufacturer of value-added food solutions. Their focus on chillers, injection, marination, weighing, freezing, and refrigeration systems provides a highly complementary lineup to JBT's core offerings.

"The addition of C.A.T. enhances JBT's presence in primary and secondary protein processing and advances our strategic acquisition program in Proteins and Liquid Foods," said Tom Giacomini, JBT's Chairman, President and Chief Executive Officer.

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