Tomra Buys Best Sorting

Source from:  Tobacco Reporter 06/13/2012

Tomra Sorting of Norway is acquiring Best Sorting for €138 million ($172.3 million). The transaction is expected to close in early July. "Best brings to the table both unique, patented technology and leading market positions in several fast-growing segments of the food sorting industry," says Stefan Ranstrand, Tomra's president and CEO. "The proposed acquisition of Best will strengthen Tomra's market presence in the food sorting segment and together with what we also have in our existing food sorting unit, it will provide an unrivaled technology base from which to grow our business further." "Best and Tomra Sorting complement each other perfectly in terms of technology and market coverage. This will benefit our customer and strengthen the combined organization, "says Best CEO Paul Berghmans. Tomra Sorting Solutions is a global market leader in sensor based sorting solutions. The technology is applied in the recycling, mining and food industries. Best develops and supplies sorting solutions to the tobacco industry, among other sectors. Best's executive team will remain active in the new organization ensuring the business continuity. The brand name Best will continue to be used. Enditem