Loading
Krones, a Germany-based conglomerate that manufactures machines used in filling and packaging, has acquired 80% ownership of Tampa-based Trans-Market Sales & Equipment Inc.
Terms of the deal weren't disclosed.
Trans-Market's niche is in process engineering and automation for the liquid food packaging industry, according to a statement. The company does about $30 million a year in sales and has more than 50 employees, the statement adds. The company has two locations in Texas, in addition the Tampa headquarters.
The previous owners of Trans-Market will retain a 20% ownership in the company. Krones is financing the acquisition with available funds, the release states.
Your free article limit has been reached this month.
Subscribe now for unlimited digital access to our award-winning business news.
Join thousands of executives who rely on us for insights spanning Tampa Bay to Naples.
