Illinois Tool Works Inc. (ITW), a worldwide diversified manufacturer, said Thursday it purchased the assets of Avery Berkel, the food retail weighing business of Avery Weigh-Tronix, in a deal the terms of which were not disclosed.
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.
"The newly-acquired company fits well into our portfolio of businesses and expands the footprint of ITW's food equipment group in Europe, said Marc Fooksman, president of ITW's Food Processing Equipment Group.
Avery Berkel, a major manufacturer of weighing systems and food processing equipment, was formed in 1993 when the British conglomerate GEC combined their GEC Avery Ltd business with the newly acquired Berkel company. The group continued as a subsidiary of GEC and later Marconi plc., until March 2000 when it was sold to Weigh-Tronix for 102.5 million to create Avery Weigh-Tronix.
The Glenview, Illinois-based ITW, a $14.1 billion in revenues diversified manufacturer of highly engineered components and industrial systems and consumables, said Avery Berkel will form a part of its existing food equipment group. Avery Berkel will operate as a separate business under the Avery Berkel brand name.
ITW closed Wednesday's trading at $58.00, up $0.19 on a volume of 3.26 million shares.
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