INDEPENDENT NEWS

Compac Takes 50% Stake In Fruit Handling Systems

Published: Thu 18 Dec 2008 10:04 AM
NEWS RELEASE
17 December 2008
Compac Takes 50% Stake In Fruit Handling Systems
Auckland produce handling and technology company Compac Sorting Equipment has made its first acquisition, taking a 50% stake in Hawkes Bay-based Fruit Handling Systems.
Compac general manager, Bob Shaw, says this is a significant step for Compac, marking the first time it has taken a shareholding in an established company.
Up till now, Compac has expanded into new markets and countries either through direct sales efforts, particularly in the USA, Latin America and Australia, or joint venture initiatives in South Korea and Europe; or via distributors in South Africa and Washington State, USA.
“Fruit Handling Systems is a great fit for us and it’s a move that we have considered carefully for some time,” said Mr Shaw.
“Compac and Fruit Handling Systems manufacture complementary products so the acquisition is a good strategic move that combines the strengths of these two companies.”
Both companies have over 25 years experience in fruit and vegetable handling technology for packhouses. Each company is at the forefront of their field. Fruit Handling Systems specializes in manufacturing equipment such as produce infeed systems, automated bin fillers and robotics which operate before and after the main Compac sorter. Compac is acknowledged as one of the world’s leading companies supplying innovative solutions and produce handling systems that size, sort, weigh and pack produce using high tech electronics, cameras and infra-red technology that detects external blemishes and internal defects.
Mr Shaw says the recently completed deal will allow Compac to expand its product range quickly and now enables it to offer full turnkey solutions. Additionally, Compac’s well established international sales and distribution network enables FHS to expand their sales through the Compac network.
Fruit Handling Systems is an independent autonomous business and will continue to operate as usual with no management overlap. Its current Managing Director Craig Petersen will continue to run the company.
-ends-

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