Filling and packaging technology manufacturer Krones has completed the acquisition of Germany-based polyethylene terephthalate (PET) preform moulds maker MHT Holding.
Financial terms of the deal were not disclosed by both the companies.
Headquartered in Hochheim, MHT Holding and its subsidiaries offer a variety of injection moulding tools for food and beverage packaging producers. They offer other services to the PET industry and generate approximately €25m revenues with 125 employees.
The transaction strengthens Krones PET value chain and extends its portfolio into preform tool manufacturing.
It allows the company to offer a broader portfolio of PET solutions to its customer base by working in collaboration with MHT.
MHT will continue to operate from its current headquarters, while Krones will retain the current management of MHT to run the business.
This deal and the acquisition of a 70% stake in Switzerland-based Integrated Plastics Systems in April will improve Krones’ PET competence and portfolio. Integrated Plastics Systems offers PET injection moulding solutions for the beverage industry.
Last month, Krones completed the acquisition of US-based WM Sprinkman, which offers engineered food and beverage processing equipment.
In September, the company boosted its capabilities with the acquisition of the business operations and assets of China-based Shanghai Xiantong Equipment Installation.