Geldards’ Cardiff-based Corporate team advised on a deal which has been shortlisted in the Insider North West Dealmakers Awards. Geldards acted for John Bean Technologies Corporation (JBT) on its acquisition of Proseal UK Limited and the deal is listed in the International Deal of the Year and the Deal of the Year (£50m plus) categories.
JBT is a multinational manufacturer of high-value food packaging solutions, headquartered in Chicago and listed on the New York Stock Exchange. JBT acquired Proseal uk Limited, a leading provider of tray sealing technology for the food industry. Proseal is headquartered in Adlington, UK, with additional production facilities in Richmond, Virginia and Melbourne, Australia and has been at the leading edge of developing environmentally-friendly packaging that minimizes the use of plastics while reducing food waste by extending the product's shelf life. The acquisition by JBT enhances their product offering and brings growth and international opportunities.
The winners will be announced at the awards dinner, which recognises the achievements of the North West's M&A professionals, held at Manchester Central on Thursday 24 October.
The Geldards team was led by Partner Geraint Tilsley, who dealt with all aspects of the transaction.
“The acquisition of Proseal by JBT being shortlisted in not only one, but two awards in the Insider's North West Dealmakers Awards is telling of the high-profile deal and its impact on the food industry. Being part of the team who made it happen is an honour and we are delighted Geldards is reaching further than South Wales and the Midlands."
"We would like to thank JBT for continuing to choose Geldards to advise them. We thoroughly enjoy working with them and look forward to doing so again in the future. I would like to wish them the very best of luck at the awards evening."
GELDARDS SHORTLISTED FOR FOUR AWARDS AT WALES DEALMAKERS AWARDS 2019 >>