JBT acquires of Cooling and Applied Technologies

JBT Corporation (NYSE: JBT) has completed its previously disclosed agreement to purchase the assets of Cooling and Applied Technologies (C.A.T.), Inc., the company said.

The agreement to purchase the assets was announced on September 19, 2016. The purchase price was USD90 million, before customary post-closing adjustments.

The acquisition of C.A.T. adds annual revenue of approximately USD50 million and a highly complementary product line focused on chillers, injection, marination, weighing, freezing, and refrigeration systems for the poultry industry.

JBT Corporation (NYSE: JBT) is a global technology solutions provider to high-value segments of the food & beverage industry and sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment.