Thu, 04 Mar 2021 | BUSINESS SALE
Cheshire-based packaging software firm AutoCoding Systems Ltd has been sold to global food tech giant JBT Corporation for £12.5 million, a 2.5x multiple of its reported £5 million turnover.
AutoCoding Systems is a specialist in automated, integrated software systems for food labelling and date codes. Its acquisition expands JBT's capabilities in areas such as label inspection, verification and coding.
AutoCoding System also operates in Australia and the US. Victoria Zivkovic, of law firm Irwin Mitchell, who worked on the deal said that the acquisition “recognises its international strength as a specialist provider in packaging line automation solutions.”
JBT President and CEO Brian Deck commented: “AutoCoding’s offering embodies JBT’s broader mission to make better use of the world’s precious resources by providing a solution that substantially enhances our customers’ success.”
“The acquisition also expands our capabilities in the large and growing global market for in-line coding and inspection solutions, which includes hardware and software for food and beverage, pharmaceutical, and nutraceutical customers”, Deck added.
AutoCoding Systems MD Mike Hughes added: “This is an exciting time for AutoCoding Systems in the UK, US and Australia. With the support of JBT and their wealth of experience across multiple businesses supplying the food and beverage industry, including Proseal, AutoCoding Systems can expand their reach into previously untapped markets for packaging line automation software.”
Find businesses for sale here.
If you are looking for an exit, we can help!
This is an opportunity to acquire a well-established company valued at over a million pounds, supported by a dedicated and hardworking team.
This is a rare opportunity to buy into a developed commercial supplier of high-quality seafood. The appetite for crab among the British public and restaurants continues to rise.
Operating for almost 20 years, the business has developed an enviable client base both in their local area and across the country.
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.