Manufacturer of protein processing equipment Bettcher Industries has announced that it will acquire the pork and beef processing solutions firm Frontmatec from Axcel.
Headquartered in Kolding, Denmark, Frontmatec is a global manufacturer of end-to-end automated solutions for pork and beef processing, with robotics and vision system capabilities. The company serves as a full-line supplier of processing equipment, parts and services, instruments plus software.
Bettcher said that the acquisition represents “an important step” in its strategy to build a scaled food processing automation platform serving food processing plants globally, and “deepens [the company’s] footprint in Europe.”
KKR Industrials, which acquired Bettcher in December 2021, will invest capital from its North American private equity strategy to support the transaction.
Frontmatec’s executive team, led by Allan Kristensen, is expected to remain in place after the transaction closes.
The transaction is expected to close during the second half of 2022, subject to customary regulatory approvals.
Leading brand
Commenting on the acquisition, Tim Swanson, CEO of Bettcher, said: “Frontmatec has built a leading brand and position by enabling customers to continuously improve the productivity and safety of their workforce.
“The company’s capabilities in automation and its global presence make it a superb fit for the Bettcher platform, and we are excited to work with Allan and his team to extend our collective innovation leadership.”
Exciting opportunity
Allan Kristensen, CEO of Frontmatec added: “We are excited to join forces with Bettcher and believe this strategic transaction will enable Frontmatec to continue expanding our suite of solutions which are helping to meet the accelerating global demand for improved yield in production and food quality.
“We are proud of everything we have accomplished and are focused on the exciting opportunity to continue growing our business together with Bettcher and KKR.”
