Benzinga | Nov 2, 2021 05:09PM EDT

JBT Corporation Acquires Urtasun Tecnologa Alimentaria For ~$40M

JBT Corporation (NYSE:JBT), a global technology solutions provider to high-value segments of the food and beverage industry, announced today it has acquired Urtasun Tecnolog?a Alimentaria S.L., a provider of fruit and vegetable processing solutions. The company is headquartered in Navarra, Spain.

"The acquisition of Urtasun expands our product offering in fruit and vegetable processing, particularly in the fresh packaged and frozen markets," said Brian Deck, President and Chief Executive Officer. "By integrating Urtasun into FoodTech, we can leverage JBT's global sales and service footprint to accelerate growth."

The purchase price was approximately $40 million. Urtasun expects 2021 revenue of approximately $25 million with Adjusted EBITDA margins in the mid to high-teens. The transaction is expected to be approximately four cents dilutive to 2021 GAAP earnings per share and one cent dilutive on an adjusted basis which excludes transaction-related costs and purchase price accounting. In 2022, Urtasun is expected to be accretive to GAAP and adjusted earnings per share by approximately three cents.