Following the announcement made in early March to acquire PBI-Dansensor, MOCON, Inc. has today finalised the agreement. Robert L Demorest, MOCON’s Chairman, President and CEO, reflected, “PBI-Dansensor is a company that we have been interested in for a long time.”
MOCON acquired 100% of the equity interests of PBI-Dansensor for DKK 112m, approximately $20m. Two-thirds of the amount has been paid for in cash at closing and the remainder will be paid over four years pursuant to a seller note.
Our two companies are very synergistic and an excellent fit with each other.
Robert L Demorest, MOCON
PBI-Dansensor, based in Ringsted, Denmark, is a manufacturer of specialised instruments for the Modified Atmosphere Packaging (MAP) of foods, beverages, pharmaceuticals and other perishable items. Last year, the company recorded sales of approximately $19.3m.
MOCON has conveyed confidence that the addition will be accretive. Demorest commented, “Their MAP product line dovetails nicely with our offerings, and their international distributor channels will enable many of MOCON’s new products to flow to major markets around the world without the necessity of setting up these distribution networks ourselves.”
... to continue reading you must be subscribed
