JBT Corporation acquires Urtasun Tecnología Alimentaria SL


CHICAGO, November 2, 2021 / PRNewswire / – JBT Company (NYSE: JBT), a global provider of technological solutions for high value-added segments of the food industry, today announced the acquisition of Urtasun Tecnología Alimentaria SL, a provider of fruit and vegetable processing solutions. The company is headquartered in Navarre, Spain.

“The acquisition of Urtasun expands our product offering in the processing of fruit and vegetables, in particular in the fresh packaged and frozen markets,” said Brian Deck, President and CEO. “By integrating Urtasun into FoodTech, we can leverage JBT’s global sales and service footprint to accelerate growth.”

The purchase price was around $ 40 million. Urtasun forecasts 2021 sales of around $ 25 million with adjusted EBITDA margins in the mid-teens. The transaction should be approximately four hundred dilutive to GAAP 2021 earnings per share and one cent dilutive on an adjusted basis that excludes costs associated with the transaction and the recognition of the purchase price. In 2022, Urtasun is expected to be accretive to GAAP and adjusted earnings per share of approximately three hundred.

JBT Corporation (NYSE: JBT) is a leading global provider of technology solutions for high value-added segments of the food industry, with a focus on protein, liquid food and automated system solutions. JBT designs, manufactures and services sophisticated products and systems for multinational and regional customers through its FoodTech segment. JBT also sells essential equipment and services to domestic and international air transport customers through its AeroTech segment. JBT Corporation employs approximately 6,400 people worldwide and operates sales, service, manufacturing and supply operations in more than 25 countries. For more information, please visit www.jbtc.com.

This press release contains forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements are non-historical information and are subject to risks and uncertainties which are beyond the control of JBT. Forward-looking statements include, among other things, statements relating to the expected impact of the COVID-19 pandemic on our business and operating results, our plans to mitigate the impact of the pandemic, our strategic plans, our plans restructuring and expected costs. the savings made thanks to these plans, our liquidity and the respect of our commitments. Factors that could cause our actual results to differ materially from expectations include, but are not limited to, the following factors: the duration of the COVID-19 pandemic and the effects of the pandemic on our ability to operate our business and our facilities, on our customers, on our supply chains due to extended delivery times and unavailability of required components and freight, on our labor cost due to higher turnover of the labor force and the shortage of skilled labor and the economy in general; fluctuations in our financial results; unforeseen delays or acceleration of our sales cycles; deteriorating economic conditions; disruptions in political, regulatory, economic and social conditions in the countries in which we do business; changes in trade regulations, quotas, duties or tariffs; risks associated with acquisitions; effects of the UK’s exit from the EU; fluctuations in exchange rates; difficulty in implementing our business strategies; increases in energy or raw material prices, transportation costs and lack of availability of raw materials due to supply chain delays, unavailability of required components and inflationary pressures; changes in food consumption patterns; impacts of pandemic diseases, foodborne illnesses and diseases on various agricultural products; weather conditions and natural disasters; impact of climate change and environmental protection initiatives; our ability to comply with the laws and regulations governing our contracts with the US government; acts of terrorism or war; the termination or loss of major customer contracts and the risks associated with fixed-price contracts, particularly in times of high inflation; customer search initiatives; competition and innovation in our industries; our ability to develop and introduce new or improved products and services and to keep pace with technological developments; difficulty in developing, preserving and protecting our intellectual property or defending claims of infringement; catastrophic loss in one of our facilities and business continuity of our information systems; cybersecurity risks such as network intrusions or ransomware programs; the loss of key management and other staff; potential liability arising from the installation or use of our systems; our ability to comply with US and international laws governing our operations and industries; increases in tax debts; work stoppages; fluctuations in interest rates and returns on pension assets; availability and access to financial and other resources; and other factors described under the headings “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in the Company’s most recent annual report on Form 10-K filed. by JBT with the Securities and Exchange Commission and in all filed Form 10-Q. Additionally, many of our risks and uncertainties are currently magnified by the COVID-19 pandemic and will continue to be. Given the very fluid nature of the COVID-19 pandemic, it is not possible to predict all of these risks and uncertainties. JBT cautions shareholders and potential investors that actual results may differ materially from those indicated by forward-looking statements. JBT assumes no obligation to publicly update or revise forward-looking statements, whether as a result of new information, future developments, subsequent events or changes in circumstances or otherwise.

Investors and media: Media: Kédric Meredith +1 312 861 6034

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