JBT Corp. Buys Alco-food-machines For Undisclosed Sum

(RTTNews) - JBT Corporation (JBT), a technology solutions provider focused on food and beverage industry, said on Friday that it has acquired Alco-food-machines GmbH & Co. KG (Alco), a German provider of further food processing solutions, for an undisclosed sum.

For the fiscal 2022, the transaction is expected to be slightly dilutive to earnings per share of the acquirer, but around two cents accretive on an adjusted basis.

Prior to synergies, for the full year, Alco expects revenues of around $35 million with EBITDA margins in the low double digits.

Bob Petrie, EVP and President, Protein at JBT Corp. said: "The acquisition of Alco complements and expands our product offering in further processing, in particular, expanding our offering in convenience meal lines as well as alternative and plant-based protein technology…Alco also further strengthens our presence and capabilities in the important German market."