GLENDALE, WIS. – Krones Group, a leading manufacturer of filling, packaging and processing equipment headquartered in Neutraubling, Germany, has entered an agreement to acquire 90% of Ampco Pumps Company, Glendale, Wis.
Ampco manufactures centrifugal and positive displacement pumps and mixing and blending equipment for the food, beverage, marine and industrial markets. Krones has an option to buy the remaining shares in Ampco, which currently remains with company management. Current Ampco management will remain in place.
Ampco Pumps Company, which has been in business for 75 years, is a key player for sanitary pumps in the North American food and beverage market.
“Krones is a major global player in the processing, filling and packaging technologies, and we are excited to join forces with them,” said Michael Nicholson, president of Ampco Pumps Company. “Becoming a member of the Krones Group will allow us significant growth opportunities and widen our offerings to our customers.” He added that the two companies complement each other perfectly in regional terms.
“The acquisition of Ampco is a major step in enhancing the Krones Processing Group portfolio and will provide a broader distribution network," said Holger Beckmann, president and chief executive officer of Krones Inc.
The transaction is subject to approval under the relevant antitrust legislation.