10.2020: Germany based Schenck Process Group (SPG) has reached an agreement to acquire Baker Perkins, a leading global supplier of food processing equipment and aftermarket services for the bakery, confectionery, biscuit, cookie and cracker, breakfast cereal and pet food end-markets. Headquartered in Peterborough, United Kingdom, Baker Perkins serves a diverse & growing mix of customers across the food industry globally.
This acquisition is a continuation of SPG’s strategic focus to further extend its global offering for the food end-markets. It will significantly strengthen European capabilities in the food processing and equipment sector, broaden our product offering in the Americas and provide opportunities for growth across the Asia Pacific region. We will build upon the knowledge, experience and customer relationships of the Baker Perkins team to support future growth, whilst remaining fully committed to existing facilities in Peterborough and Grand Rapids, Michigan.
Upon completion, the business will continue to be run by the existing managing directors as part of the SPG regional business structure.
The transaction is expected to close in Q4 2020.
Centum Capital provides this information as a market news, but has not been involved in the transaction.