Trade Resources Company News Berkshire Hathaway Firm CTB to Buy 80% Stake in Cabinplant

Berkshire Hathaway Firm CTB to Buy 80% Stake in Cabinplant

Tags: CTB, Cabinplant, stake

Berkshire Hathaway company CTB has agreed to purchase 80% stake in Danish company Cabinplant for an undisclosed sum.

Based in Haarby, Cabinplant provides processing and weighing / packing solutions for the food industry.

With subsidiaries in Poland, Germany, Spain and the US, the firm manufactures processing equipment for vegetables and fish.

The company also provides weighing and packing solutions for meat and convenience foods.

Cabinplant provides processing and weighing equipment for a wide range of businesses with main focus on fish and shellfish, fruit and vegetable, and poultry markets.

The company, which has around 300 employees, carries out operations in about 30 countries.

CTB said that the Cabinplant’s poultry processing equipment complements its Meyn poultry processing subsidiary.

CTB chairman and CEO Victor Mancinelli said: “The acquisition helps CTB to broaden the range of poultry processing options it can offer its customers as well as expanding into new market areas for processing, such as seafood and vegetables.

“Cabinplant’s knowledge of the food industry and its innovative approach to product development and implementation fit very well with CTB’s approach to its core markets.”

Cabinplant co-owner and CEO Ralf Astrup said: “Jan and I are delighted to collaborate with such a well-known and respected global company.

“We look forward to tremendous opportunities for continued growth and expansion as one of the CTB companies.

Contribute Copyright Policy