CTB to buy poultry processing equipment company
May 7, 2012
by Jeff Gelski
MILFORD, IND. — CTB, Inc. will acquire Meyn Holding B.V., a parent company to poultry processing equipment company Meyn Food Processing Technology B.V., from Altor 2003 Fund under an agreement reached between CTB and Altor.
Based in Amsterdam, The Netherlands, Meyn develops, manufactures, markets and distributes its poultry processing equipment to more than 90 countries. Meyn America, L.L.C., is based in Ball Ground, Ga.
“Meyn has under the ownership of Altor become the global leader in poultry processing solutions,” said Han Defauwes, president and chief executive officer of Meyn. “Meyn has successfully developed its services to encompass the entire poultry processing value chain, providing market leading efficiency to the industry.
“With CTB as a new owner, we will be able to continue our successful strategy to further build our leading position in the poultry processing industry. We are delighted to be part of CTB, and we are looking forward to develop Meyn together with CTB by serving our customers with a broader range of products.”
CTB, a Berkshire Hathaway company based in Milford, is a designer, manufacturer and marketer of systems for the poultry, pig, egg production and grain industries. Meyn will become a new business unit of CTB, and Meyn’s management will continue in the same roles.
“Meyn is a great match for CTB,” said Victor A. Mancinelli, president and c.e.o. of CTB. “The acquisition joins together leading companies in two distinct sectors of the poultry industry. Both companies are innovative in their approach, and both seek to partner with poultry companies to provide intelligent, forward-thinking solutions. The acquisition will provide CTB with the ability to offer global poultry companies total solutions from grow-out through the eventual processing cycle.”
The transaction is conditional upon approval by competition authorities and the Dutch works council.