Krones to acquire Ampco Pumps majority stake
Krones has an option to buy the remaining shares in Ampco in the future.
Krones, a manufacturer of processing, filling, packaging and related technologies, has signed an agreement to acquire 90% of Ampco Pumps Co.
Headquarterd in Glendale, Wis., Ampco manufactures sanitary pumps, mixing, and blending equipment for the food, beverage, dairy, personal care and pharmaceutical industries. Krones has an option to buy the remaining 10% of the shares in Ampco at some point in the future, which currently remain with company management.
“The acquisition of Ampco is a major step in enhancing the Krones Processing Group portfolio and will provide a broader distribution network,” said Holger Beckmann, president and CEO of Krones Inc.
With Ampco Pumps and Krones’ Evoguard Valve Technology, Krones will offer customers a wider range of processing technology and components. In addition, the businesses of the two companies complement each other perfectly in regional terms, Krones stated.
“Krones is a major global player in the processing and packaging industries, and we are excited to join forces with them,” said Michael Nicholson, president of Ampco. “Becoming a member of the Krones Group will allow us significant growth opportunities and widen our offerings to our customers.”
The transaction is subject to approval under the relevant antitrust legislation.
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