JBT Corp to acquire Tipper Tie for $160m

JBT has penned a purchase deal with Tipper Tie’s holding company Dover, with the transaction, still subject to regulatory approval, expected to close in the fourth quarter of 2016.

Tipper Tie​, based in North Carolina, US, claims to be one of the leading manufacturers of meat processing and packaging machinery. The business has four manufacturing sites around the world, with its European base in Germany.

JBT​ claims to be a “leading global technology solutions provider​” operating in the food and drink industry.

‘Critical’ venture​

“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,​” said Tom Giacomini, JBT’s chairman, president and CEO. “Tipper Tie’s globally recognised 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.​”

Dover’s president and CEO Robert Livingston said the sale of Tipper Tie to JBT Corporation made sense.

“The sale of Tipper Tie is another step in the execution of our strategy to sharpen the focus of our business mix. We are confident the customers and channel partners of Tipper Tie will benefit from this transaction’s strategic fit with JBT, as it brings together two strong players in the food processing industry.​”

A Dover spokesman denied that the sale of Tipper Tie to “sharpen the focus​” of Dover’s business was an indication of the company moving away from meat processing machinery.

All jobs at Tipper Tie are believed to be safe.