JBT purchases food-equipment provider FTNON

John Bean Technologies (JBT), a global technology solutions provider to food and beverage companies, has acquired FTNON for a sum of €32m.

FTNON is headquartered in Almelo, Netherlands, and primarily provides food equipment and solutions for the fresh produce, ready meals and thermal food processing industries.

JBT estimates that the acquisition of FTNON could increase the annual revenue of its FoodTech business by nearly $30m.

The company also anticipates a growth in earnings of $0.03-$0.05 per share for the next year and $0.05-$0.07 per share in 2020 as a result of the acquisition.

JBT chairman, president and chief executive officer Tom Giacomini 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’ labour requirements.

“As part of JBT, we foresee opportunities to expand FTNON’s global penetration, grow its aftermarket business and enhance profitability.”

Through its FoodTech division, JBT is engaged in the provision of food safe solutions for the food and beverage industries, with a primary focus on proteins, liquid foods and automated system solutions.

JBT also strengthened and expanded its Liquid Foods portfolio in July last year by purchasing UK-based PLF International (PLF) for a consideration of £28m.

PLF is based in Harwich, Essex, UK, and provides powder filling systems to the global food and beverage markets.

JBT currently employs around 5,800 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.