Berkshire Hathaway’s CTB, Inc. has finalized the purchase of a majority share in Cabinplant A/S, one of the world’s leading manufacturers of processing equipment for vegetables and fish.
Cabinplant’s poultry processing equipment complements that made by CTB’s Meyn poultry processing subsidiary.
The acquisition agreement was originally announced on September 5, 2016. Terms of the transaction were not disclosed.
The acquisition adds tailor-made processing solutions for fish and shellfish, fruit and vegetables, and convenience foods, as well as additional poultry processing equipment to CTB’s existing line of Meyn processing equipment for poultry. Cabinplant’s high-yield processing solutions broaden the range of processing options CTB can offer customers in the food industry.
Acquired by Berkshire Hathaway in 2002 for $180 million, CTB is a leading global designer and maker of systems and solutions for storing, conveying and preserving grain; producing poultry, pigs and eggs; and processing poultry, fish, vegetables and other foods.
© 2016 David Mazor
Disclosure: David Mazor is a freelance writer focusing on Berkshire Hathaway. The author is long in Berkshire Hathaway, and this article is not a recommendation on whether to buy or sell the stock. The information contained in this article should not be construed as personalized or individualized investment advice. Past performance is no guarantee of future results.