JBT Corp., a global technology services provider to the food and beverage industry, has completed its acquisition of Bevcorp, a provider of equipment and aftermarket support for the beverage processing and packaging market in the U.S., for $290 million.
Bevcorp provides technology services in blending, handling, filling, and closing to a range of customers, including blue chip companies.
“We are excited to announce that we completed the acquisition of Bevcorp,” says Brian Deck, president and chief executive officer. “The acquisition of Bevcorp expands JBT’s capabilities in the carbonated beverage processing and packaging market, and it brings a highly resilient business model with more than 60 percent recurring revenue along with a best-in-class service culture. The unique combination of Bevcorp and JBT allows for meaningful cross selling and future growth opportunities in both food and beverage.”