Munters Group signs agreement to divest FoodTech Equipment offering

Munters has signed an agreement to divest the FoodTech Equipment offering to Grain & Protein Technologies, owned by American Industrial Partners, for MEUR 97.5 on a cash and debt free basis. The announced divestment is in line with Munters strategy to achieve increased long-term value creation, with focus on selected segments in each business area. In the business area FoodTech, Munters has intensified its efforts in the field of digital growth with software, controllers, sensors and IoT, which from now will form the FoodTech business area. The announced divestment marks an important step in streamlining the operations within business area FoodTech. The divestment includes five production facilities across Italy, Germany, China and US, one assembly hub in South Africa and three sales offices. Approximately 400 employees operating across Europe, North America, Middle East and Southeast Asia are part of this business, which manufactures and sells ventilation equipment for customers within livestock farming and greenhouses.