Automation firm Duravant in $175m takeover bid

By Oscar Rousseau

- Last updated on GMT

Duravant has been an early pacesetter in the M&A space, launching two takeovers in 2018
Duravant has been an early pacesetter in the M&A space, launching two takeovers in 2018

Related tags Packaging equipment & materials Processing equipment & plant design

US automation machinery provider Duravant is to acquire food processing equipment supplier Key Technology for US$175m.

Both American companies manufacture automated machinery for firms including meat and poultry processors and Duravant​ - in second acquisition of the year - has made a tender offer to bring Key Technology under its control.

The deal has been unanimously approved by Key Technology’s board of directors.

‘Solving complex challenges’ together

I’m thrilled to welcome the Key Technology team to Duravant,​” said Mike Kachmer, CEO of Duravant.

Key Technology’s culture of customer-centric innovation and their ability to successfully launch new technology platforms has been a driving force behind their impressive growth. Our two organisations share the same unwavering commitment to solving complex challenges for our customers through innovation.​”

Key Technology has its HQ in Walla Walla, Washington, and boasts a physical presence in Australia, Belgium, Mexico and the Netherlands. Smart optical inspection and digital sorting systems is its forte within automation, but vibratory conveyor system and process and preparation systems also complement its portfolio of automation solutions. All of these are set up to help a range of companies, inclduing meat processors, to optimise yield, quality and efficiency.

Key Technology is truly excited and honoured to join Duravant and we have great expectations for the future of our combined teams,​” said Jack Ehren, CEO of Key Technology.

Duravant’s strong commitment to investment and growth will enable Key to accelerate the execution of our overall strategic plan and even further enhance our customer partnerships.​”

He added the combined power of the two companies would help strengthen their outward expansion and penetrate new markets.

Based in Illinois, US, Duravant serves 190 countries across sectors including food and drink, agriculture, FMCG and big pharma.

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