TOMRA has signed an agreement with the owners of New Zealand’s Compac Holding Ltd to acquire 100% of the shares in the company. Source: Potatopro
Compac is a New Zealand based manufacturer of lane sorting machinery for the fresh fruit and vegetable Industry.
This system uses nearinfrared (NIR) for the non-invasive testing of the internal properties of produce.
In potatoes, the NIR spectrometer can detect black heart, hollow heart, browning fleck and zebra chip.
Closing of the transaction is expected to take place during the first quarter of 2017, subject to approval by the New Zealand Overseas Investment Office.
“The food market is large and continuously growing with requirements around food safety and quality becoming increasingly more stringent,” Stefan Ranstrand, TOMRA’s President and CEO said.
“Food producers are also consolidating, becoming larger, more sophisticated and more global. As a leading technology supplier into this industry we see clear advantages in mirroring this trend.
“With the acquisition of Compac, we reinforce TOMRA’s leading position within the food segment and we will be the first player to present an offering to our customers for sorting fresh and processed foods with both lane and bulk sorters.”
Compac is a New Zealand-based provider of post-harvest solutions and services to the global fresh produce industry.
The company designs, manufactures, sells and services packhouse automation systems that sort fresh produce based on weight, size, shape, colour, surface blemishes and internal quality.
Compac employs approximately 700 people across locations in New Zealand, Australia, US, China, Latin America, South Africa, Spain and Italy and has a leading position within the sorting of apples, kiwifruit, cherries, avocados and citrus.
About 6000 Compac sorting lanes have been sold worldwide in over 40 markets.
“Market forces have driven double digit growth at Compac over recent years, and we have rapidly become a global business from humble New Zealand roots,” Mike Riley, Compac CEO said.
“Joining forces with TOMRA will enable us to continue to meet the increasing demands for our products and services in a more scalable and operationally efficient manner.”
TOMRA manufactures sensor-based sorting machines for the food industry with more than 5900 systems installed at food growers, packers and processors worldwide.
The company provides high-performance optical sorters, graders, peeling and process analytics systems for nuts and seeds, dried fruits, potato products, fruits, vegetables, meat and seafood.
Compac’s leadership team will remain in the new structure and Compac’s customers will deal with the same people in sales and service.
TOMRA will continue to offer its existing product portfolio.