JBT signs definitive agreement to acquire Cooling and Applied Technologies

JBT Corporation (NYSE: JBT) has signed a definitive agreement to purchase the assets of Cooling and Applied Technologies (C.A.T.), Inc., the company said.

The purchase price is USD90 million, before customary post-closing adjustments. The transaction is expected to close in the fourth quarter of 2016, subject to regulatory approval and other customary closing conditions.

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