Schenck Process Group (SPG) has reached an agreement to acquire Baker Perkins. Headquartered in Peterborough, the UK, Baker Perkins serves a diverse and growing mix of customers across the food industry globally.
This acquisition is a continuation of SPG’s strategic focus to further extend its global offering for the food end-market. It will strengthen its European capabilities in the food processing and equipment sector, broaden its product offering in the Americas, and provide opportunities for growth across the Asia-Pacific region.
Commenting on the acquisition, Keith Cochrane, CEO of SPG, said: “It will complement and extend our existing product offering to the food end-market, which is a key strategic focus, providing good opportunities for future growth, operating efficiency, and further value creation for all stakeholders.”
The transaction is expected to close in Q4 2020. Upon completion, the business will continue to be run by the existing managing directors as part of the SPG regional business structure.
Dan Bassett, managing director for Baker Perkins UK, concluded: “We have been looking for a long-term partner prepared to invest in the company, and continue its development for many years to come. We can relate to the SPG culture that encourages local autonomy and entrepreneurship, which fits well with our independent mind-set. Already we can see significant opportunities for growth, and I am excited at the prospect of working together.”