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!
The company operates as a specialist designer and crafter of bespoke furniture, interior joinery and luxury drinks cabinets for high-end clients around the world.
FREEHOLD
Provides services to a diverse range of sectors, including automotive, medical and building control. Operates from freehold premises. Offered for sale to facilitate retirement plans. Offers invited.
LEASEHOLD
Manufactures a comprehensive range of electric heating products for commercial clients throughout the UK and internationally.
FREEHOLD
|
22
|
|
Oct
|
96,000 sq. ft. Aberdeen office block up for sale for £19.5m | COMMERCIAL PROPERTY
Real estate and investment manager APAM Ltd has put the 96,0...
|
21
|
|
Oct
|
Firm behind unfinished £45m Liverpool student accommodation project collapses | ADMINISTRATION
Mount Group Student NatEx Ltd, the company behind the £...
|
21
|
|
Oct
|
Food importer acquired out of administration after succumbing to COVID and Brexit | BUSINESS SALE
Hull-based dried fruit and nuts importer Hider Foods has bee...
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