CTB New Long Term Owner of Meyn
NETHERLANDS - CTB, Inc. has reached an agreement to acquire Meyn Holding. B.V., a parent company to Meyn Food Processing Technology B.V., the global leading poultry processing equipment company, from Altor 2003 Fund.Headquartered in The Netherlands, Meyn is the global market leader in poultry
processing equipment, serving industrial poultry processors worldwide through its
offering of full “wall-to-wall” solutions. Meyn develops, manufactures, markets and
distributes its poultry processing solutions globally to over 90 countries.
Han Defauwes, President and CEO of Meyn, comments, “Meyn has under the
ownership of Altor, become the global leader in poultry processing solutions. Meyn
has successfully developed its services to encompass the entire poultry processing
value chain, providing market leading efficiency to the industry. With CTB as a new
owner, we will be able to continue our successful strategy to further build our
leading position in the poultry processing industry. We are delighted to be part of
CTB and we are looking forward to develop Meyn together with CTB by serving our
customers with a broader range of products."
Victor A. Mancinelli, CTB President and CEO, comments, ”Meyn is a great match
for CTB. The acquisition joins together leading companies in two distinct sectors of
the poultry industry. Both companies are innovative in their approach, and both
seek to partner with poultry companies to provide intelligent, forward-thinking
solutions. The acquisition will provide CTB with the ability to offer global poultry
companies total solutions from grow-out through the eventual processing cycle.”
CTB adds that Meyn’s current structure will stay in place and Meyn will become a
new business unit of CTB. Meyn’s management will also continue in their current
roles.
Bengt Maunsbach, Partner at Altor Equity Partners AB, comments, “In Meyn Altor
acquired a great business with a world class management team. We are pleased
with the way Meyn has developed. Having completed our development plans for
Meyn we are confident Meyn will continue to prosper under CTB’s ownership.”
The transaction is conditional upon approval by competition authorities and the
Dutch works council.