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 customer.”