US firm JBT has signed an agreement to acquire Tipper Tie from Dover for around $160m.
Based in Apex of North Carolina, Tipper Tie provides protein processing and packaging solutions, and related consumables to the food industry.
The company supplies processing and clip packaging, including fine cutters for emulsified products.
It also produces a complete line of clippers from tabletop models to fully automated and high speed systems, which seal clip, net, bag and hang a wide variety of products.
In addition, the firm supplies products to the manufacturers of packaged explosives, adhesives, sealants and other industrial products.
Tipper Tie operates four manufacturing facilities across the world.
Subject to customary regulatory approvals, the deal is expected to complete in the fourth quarter of this year.
JBT's chairman, president and CEO Tom Giacomini said: "The addition of Tipper Tie expands JBT's protein platform to include complementary packaging solutions, enabling us to offer even greater value to our customers.
"Tipper Tie's globally recognized brand, advanced technology, and relationships with major food processors in the US and Europe will prove critical as we grow the company's presence in Asia and Latin America.
“The company also has a large installed equipment base that generates high recurring revenues from consumables and aftermarket parts sales."
JBT provides technology solutions to the food and beverage industry. It mainly provides solutions to the proteins and liquid foods.
