Thu, 04 Mar 2021 | BUSINESS SALE
Cheshire-based packaging software firm AutoCoding Systems Ltd has been sold to global food tech giant JBT Corporation for £12.5 million, a 2.5x multiple of its reported £5 million turnover.
AutoCoding Systems is a specialist in automated, integrated software systems for food labelling and date codes. Its acquisition expands JBT's capabilities in areas such as label inspection, verification and coding.
AutoCoding System also operates in Australia and the US. Victoria Zivkovic, of law firm Irwin Mitchell, who worked on the deal said that the acquisition “recognises its international strength as a specialist provider in packaging line automation solutions.”
JBT President and CEO Brian Deck commented: “AutoCoding’s offering embodies JBT’s broader mission to make better use of the world’s precious resources by providing a solution that substantially enhances our customers’ success.”
“The acquisition also expands our capabilities in the large and growing global market for in-line coding and inspection solutions, which includes hardware and software for food and beverage, pharmaceutical, and nutraceutical customers”, Deck added.
AutoCoding Systems MD Mike Hughes added: “This is an exciting time for AutoCoding Systems in the UK, US and Australia. With the support of JBT and their wealth of experience across multiple businesses supplying the food and beverage industry, including Proseal, AutoCoding Systems can expand their reach into previously untapped markets for packaging line automation software.”
Find businesses for sale here.
If you are looking for an exit, we can help!
A reputable manufacturer formed almost a decade ago. Offers dedicated white-label food manufacturing services. Produces a wide array of health foods and supplements, including whey protein, vegan protein, meal replacement and weight loss drinks. Prov...
LEASEHOLD
A highly regarded business operating for over 15 years. Retains licensing agreements and partnerships with prestigious organisations.
LEASEHOLD
We are pleased to bring to market this long-established joinery business; specialising in bespoke timber windows, doors and conservatories for the domestic market in the West Midlands area.
FREEHOLD
|
21
|
|
Apr
|
English vineyard business put up for sale | BUSINESS SALE
A specialist English Pinot Noir vineyard in Worcestershire h...
|
20
|
|
Apr
|
Administrators appointed as UK logistics firm collapses | ADMINISTRATION
West Bromwich-based courier and logistics firm New Generatio...
|
20
|
|
Apr
|
Company insolvencies begin to rise in March as pandemic impact shows | BUSINESS NEWS
Government figures show that UK company insolvencies rose 44...
Sign up to receive our acquisition alert emails to get your FREE guide
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources