IMI acquires juice dispensing equipment business in US - 1 September 2000
IMI plc, the major international engineering group, today announces that it has acquired the in-house juice dispenser manufacturing business of US based Vitality Foodservice for a cash consideration of £3.5m. The two companies have entered into a 10 year supply agreement under which IMI will manufacture and supply all existing equipment models, and develop innovative new products for the future. Annual sales are around £5m.
Vitality Foodservice is a Florida based subsidiary of Vitality Beverages Inc, a leading provider of juice and other beverage products to the foodservice industry, with annual sales of approximately $700m.
Martin Lamb, IMI Executive Director responsible for the Drinks Dispense business said:
"This is an important step in consolidating our position as the leading supplier of juice dispense equipment in the US market. We are delighted to have Vitality as a partner."
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Enquiries:
IMI plc
Tel: 0121 356 4848
Martin Lamb, Executive Director
Issued by:
Shandwick International
Tel: 020 7329 0096
Ben Padovan
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