US based CTB Inc. has reached an agreement to acquire Meyn Holding bv, the parent company of Meyn Food Processing Technology, from Altor 2003 Fund.
Headquartered in The Netherlands, Meyn is a prominent supplier of poultry processing equipment, serving industrial poultry processors worldwide through its offering of full “wall-to-wall” solutions. Meyn develops, manufactures, markets and distributes its poultry processing solutions globally to over 90 countries.
Han Defauwes, President and CEO of Meyn, comments, “Meyn has under the ownership of Altor, become a major company in poultry processing solutions. 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”.
Victor A. Mancinelli, CTB President and CEO, comments, ”Meyn is a great match for 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.”
CTB adds that Meyn’s current structure will stay in place and Meyn will become a new business unit of CTB. Meyn’s management will also continue in their current roles.
Bengt Maunsbach, Partner at Altor Equity Partners AB, comments, “In Meyn Altor acquired a great business with a world class management team. We are pleased with the way Meyn has developed. Having completed our development plans for Meyn we are confident Meyn will continue to prosper under CTB’s ownership.”
The transaction is conditional upon approval by competition authorities and the Dutch works council.