JBT acquires PLF International Limited

JBT Corporation acquired (31-Jul-2017) PLF International Limited (PLF), a provider of powder filling systems for the global food and beverage markets. The purchase price is GBP28 million, before post-closing adjustments. Privately held PLF is headquartered in Harwich (Essex). The acquisition of PLF adds annual revenue of approximately USD25 million. Transaction costs and purchase price accounting associated with the acquisition are expected to more than offset earnings generated under JBT ownership in 2017, with a negative impact of approximately USD0.03 per share. The company anticipates earnings accretion of USD0.03 to USD0.05 per share for 2018 and USD0.06 to USD0.08 per share for 2019. [more - original PR]