Benzinga | Jun 28, 2021 06:31AM EDT

JBT to Acquire Prevenio, A Food Safety Technology Company, For $170M

The agreed purchase price is $170 million, before customary post-closing adjustments, and the transaction is expected to close early in the third quarter. Prevenio expects run rate annual revenue at the end of 2021 of approximately $50 million with EBITDA margins accretive to JBT FoodTech's Adjusted EBITDA margins. Including transaction-related costs and after purchase price accounting associated with the acquisition, the transaction is expected to have a minimal impact to GAAP earnings per share, and be accretive to Adjusted EPS by approximately $0.03 in 2021. In 2022, Prevenio is expected to be accretive to GAAP and Adjusted EPS by approximately $0.10.