Illinois Tool Works Inc. Acquires Food Retail Weighing Business Avery Berkel
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GLENVIEW, Ill., Sept. 20 -- Illinois Tool Works Inc. (NYSE:ITW) today announced that it has acquired the assets of Avery Berkel, the food retail weighing business of Avery Weigh-Tronix. Terms of the transaction were not disclosed.
Avery Berkel will be a wholly owned business unit of ITW and part of the company's existing food equipment group. ITW will continue to operate Avery Berkel as a separate business under the Avery Berkel brand name.
"Avery Berkel is considered a market-leading manufacturer of retail scales and other food processing equipment for both the independent and multi-chain supermarkets throughout Europe," said Marc Fooksman, president of ITW's Food Processing Equipment Group. "The newly-acquired company fits well into our portfolio of businesses and expands the footprint of ITW's food equipment group in Europe."
The new managing director, John Watson, formerly director of Avery Berkel UK and Avery Berkel North America said, "The acquisition brings even more prospects for Avery Berkel's growth. With the backing of a proven development-based owner like ITW, our product engineers can now concentrate on what they do best -- designing innovative product ranges aimed at maximizing our customers' profitable fresh food businesses."
For over 200 years, Avery Berkel has supplied a broad range of weighing equipment to meet the demands of both the industrial and retail sectors. Now, with the separation of the two businesses, Avery Berkel has become a dedicated retail solutions company, focused solely on developing fresh food weighing systems, software and services for its core retail customers worldwide. Based in Smethwick, near Birmingham, UK, it also has operations in Ireland, France, Germany, Austria, and the United States. Avery Berkel also sells its products through distributors in other parts of the world.
ITW is a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables. The company consists of approximately 750 business units in 49 countries and employs some 55,000 people.
Source: Illinois Tool Works Inc.
CONTACT: Alison Donnelly of Illinois Tool Works Inc., +1-847-657-4565,adonnelly@itw.com
Web site: http://www.itw.com/
