Schenck Process set to acquire Baker Perkins
Schenck Process Group (SPG) is set to acquire Baker Perkins, a leading global supplier of food processing equipment and aftermarket services for the bakery and confectionery.
This acquisition is a continuation of SPG’s strategic focus to further extend its global offering for the food end-markets. It is expected to “significantly strengthen” European capabilities in the food processing and equipment sector, broaden its product offering in the Americas and provide opportunities for growth across the Asia Pacific region.
In a statement, SPG states: “We will build upon the knowledge, experience and customer relationships of the Baker Perkins team to support future growth, whilst remaining fully committed to existing facilities in Peterborough and Grand Rapids, Michigan.”
Upon completion, the business will continue to be run by the existing managing directors as part of the SPG regional business structure. The transaction is expected to close in Q4 2020.
Keith Cochrane, CEO of SPG, said: “I am delighted to see Baker Perkins join us. This is a long-established business with a reputation for excellent products and customer service, with a similar business model to our own. It will complement and extend our existing product offering to the food end-market, which is a key strategic focus, providing good opportunities for future growth, operating efficiency and further value creation for all stakeholders.”
Mr Dan Smith, MD Baker Perkins US, added: “Schenck Process already has a significant footprint in the US market, and we can see major opportunities in the combination of our expertise and product range.”