Material handling and processing specialist Duravant has agreed to acquire Key Technology, which makes digital sorting, inspecting and conveying equipment for the food industry, in a deal worth approximately $175 million.
Key Technology’s portfolio includes highly intelligent optical inspection and digital sorting systems, vibratory conveying systems, and process and preparation systems. As well as headquarters in Walla Walla, Washington, the company has facilities in the Netherlands, Belgium, Australia and Mexico.
Duravant said the transaction would “bring together two global engineered equipment leaders” and “significantly extends Duravant’s reach across food processing with new complementary products and applications”.
Mike Kachmer, president and CEO of Duravant, said: “I’m thrilled to welcome the Key Technology team to 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 CEO Jack Ehren added: “Key Technology is truly excited and honoured to join Duravant, and we have great expectations for the future of our combined teams. 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.
“The combined global infrastructure of Duravant and Key will also help us advance our commitment to increased geographic market and new application penetration.”
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