top of page

The latest news, trends, analysis, interviews and podcasts from the global food and beverage industry

FoodBev Media Logo
Access more as a FoodBev subscriber

Sign up to FoodBev and unlock more insights from the international food and beverage industry. Subscribers have access to webinars, newsletters, publications and more...

Hillenbrand to acquire Schenck Process Food and Performance Materials business for $730m
FoodBev Media

FoodBev Media

25 May 2023

Hillenbrand to acquire Schenck Process Food and Performance Materials business for $730m

Processing equipment and solution provider Hillenbrand has announced plans to acquire Schenck Process Food and Performance Materials (FPM) for around $730 million. FPM, a portfolio company of private investment firm Blackstone, develops, manufactures, markets and sells a full range of solutions, products and systems for the food, chemicals and performance industries. FPM specialises in the design, manufacturing and service of feeding, filtration, baking and material handling technologies and systems that are complementary to the equipment and solutions currently offered in Hillenbrand’s ‘Advanced Process Solutions’ segment. Upon closing, FPM will become part of the ‘Advanced Process Solutions’ segment. Headquartered in Missouri, US, FPM has more than 1,300 global employees and has consumers in over 150 countries. Approximately 85% of the company’s revenues are generated in North America. Kim Ryan, president and CEO of Hillenbrand, said: "By combining the applications and systems processing expertise of our ‘Advanced Process Solutions’ segment with FPM, we will be positioned to offer greater value to our customers and drive scale benefits across manufacturing, engineering, and procurement”. Hillenbrand expects to use cash on hand and cash available under its revolving credit facility to fund the acquisition. The transaction is expected to close during Hillenbrand's fiscal fourth quarter of 2023, subject to regulatory approvals and other customary closing conditions.

Related posts
Tetra Pak unveils industrial mixer to streamline liquid protein processing
Manufacturing

Tetra Pak unveils industrial mixer to streamline liquid protein processing

EIT Food RisingFoodStars unveils start-up cohort for agri-food-tech initiative
Business

EIT Food RisingFoodStars unveils start-up cohort for agri-food-tech initiative

Birchall brews up sustainability with UK's first solar-powered tea factory
Manufacturing

Birchall brews up sustainability with UK's first solar-powered tea factory

EvodiaBio raises €7m for sustainable aroma tech
Beverage

EvodiaBio raises €7m for sustainable aroma tech

Pairwise develops 'world's first' seedless blackberry using CRISPR
Technology

Pairwise develops 'world's first' seedless blackberry using CRISPR

Soli Organic opens new soil-based vertical farm in Texas
Agriculture

Soli Organic opens new soil-based vertical farm in Texas

bottom of page