ITW To Acquire Meurer Group
GLENVIEW, Ill. - Illinois Tool Works Inc. (NYSE: ITW) has announced that it has signed a Definitive Purchase Agreement to acquire 100 percent of the Meurer Group located in Furstenau Germany. Meurer is a well-known supplier of secondary packaging equipment to the FMCG (Fast Moving Consumer Goods) markets worldwide.
Meurer will join Hi-Cone, Hartness International and ITW Warehouse Automation as part of the ITW Global Packaging Solutions Group, which is part of the ITW Consumer Packaging Segment. The transaction is expected to close in July pending government approval.
“Meurer is an excellent addition to ITW’s consumer packaging business,” said Steve Henn, group president. “With over 40 years of experience in secondary packaging, Meurer will enhance ITW’s capabilities and customer solutions.”
ITW is a Fortune 200 global diversified industrial manufacturer of value-added consumables and specialty equipment with related service businesses. The company focuses on solid growth and strong returns across its worldwide platforms and businesses. These businesses serve local customers and markets around the globe, with a significant presence in developed as well as emerging markets. ITW's pro forma revenues totaled $17.0 billion in 2012, with more than half of these revenues generated outside of the United States.