CTB acquires manufacturer Mannebeck
Chore-Time Brock, based in Milford, Illinois, announced on Monday that it
has signed a definitive agreement to purchase German pig equipment manufacturer
B. Mannebeck Landtechnik.
Mannebeck is a designer, manufacturer and marketer of innovative equipment
for pig production including electronic sow feeding and other feeding systems,
animal-friendly stalls and crates, and plastic flooring for piglets and
sows. The company is headquartered in SchÃ¼ttorf, Germany and also has a
facility in Siedlec, Poland. The transaction is expected to close on September
30, 2008. Financial terms of the transaction were not disclosed.
CTB anticipates continuing production in
Mannebeck's existing facilities, while also integrating Mannebeck's sales and
marketing efforts into its PigTekÂ® Pig Equipment Group business unit, founded in
early 2007 to focus on supplying project and equipment solutions and expertise
to the global pig industry.
A family-owned business, Mannebeck was
founded by Bernhard Mannebeck in 1963. Bernhard Mannebeck retired from active
involvement in the business in 2006, and his wife Hilde and son Dieter have been
serving as managing directors. Dieter Mannebeck will continue as managing
director after the acquisition.
Commenting on the
acquisition, Victor A. Mancinelli, president and CEO of CTB, said, "Mannebeck is
known for the originality of its design work which has won industry recognition
for equipment innovation. The company continues to concentrate on product
development with a significant commitment to research and development and
additional innovations expected in the future.
"The company's unique
electronic feeding technology is an important addition to the package of
products we can offer pig producers through PigTek."
"We are excited about the significant growth opportunities
we will have as part of CTB by leveraging its reputation and resources," Hilde
and Bernhard Mannebeck noted.
"Starting from almost nothing, the company
we founded has now gained worldwide recognition for its products. We grew first
as a nationwide supplier to German customers, and now, through globalisation, an
enormous market is open to us. We are happy that Mannebeck can continue to serve
the important German market, while approaching the global challenges of the
future together with a worldwide operating enterprise as its partner."
According to PigTek managing director
George Murdoch, "The combination of CTB and Mannebeck allows us to leverage
existing global business sales channels to offer additional technology solutions
to customers in the global pig industry. We will tailor the brands and products
we take to each market depending upon the needs of the local
â€¢ Chore-Time Brock (CTB)
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