US packaging technology firm MOCON has struck a deal to acquire Denmark-based specialized instrumentation maker Dansensor for $20m. The agreement which involves certain customary conditions, is expected to be closed by 2 April 2012.
The acquisition will give MOCON a 2011 combined revenue base of $56.7m, according to the firm.
It will boost MOCON's presence in Europe, particularly in the MAP technology market-space.
Dansensor's line of gas mixers adds to the MOCON's product line, while Dansensor's line of headspace analyzers, controls and package leak detectors will supplement MOCON's current product portfolio.
MOCON chairman, president and CEO Robert Demorest said they have been interested in taking over Dansensor for a long time.
"Their MAP product line dovetails nicely with our offerings, and their international distributor channels will enable many of MOCON's new products to flow to major markets around the world without the necessity of setting up these distribution networks ourselves. Our two companies are very synergistic and an excellent fit with each other. Combining our two companies will allow us to be a strong competitor in the overall MAP marketplace," added Demorest.
Dansensor develops quality control and assurance equipment for businesses that use modified atmosphere packaging (MAP) for perishable items like foods, beverages and drugs.