CTB Inc. announced that an agreement has been signed for the acquisition of Meyn Holding B.V., the parent company of Meyn Food Processing Technology B.V., based in Oostzaan, the Netherlands.
Terms of the transaction were not disclosed.
The transaction is subject to applicable governmental approvals and Dutch works council advice. CTB was advised in the transaction by Loyens & Loeff N.V., Faegre Baker Daniels LLP and Sequoia.
CTB Inc. is a leading global designer, manufacturer and marketer of systems and solutions for the poultry, pig, egg production, and grain industries. The company operates from multiple locations in various countries around the world and serves its customers through a worldwide network of independent dealers and distributors. It became a wholly owned subsidiary of Berkshire Hathaway Inc. in 2002.
Meyn is a leading designer and manufacturer of poultry processing systems and equipment with customers in more than 90 countries worldwide and additional production facilities located in the USA and Poland.
Founded in 1959, Meyn has been at the forefront of product innovation and development throughout its history, having introduced a large number of revolutionary innovations in the poultry meat processing industry. The company is widely recognised for its proven ability to support its customers in their ambition for higher capacity and increased yield and efficiency.
Meyn's current structure will stay in place and Meyn will become a new business unit of CTB. Meyn's management team will also continue in their current roles.
Source: CTB Inc.