Hillenbrand Inc. has entered into a definitive agreement to acquire the Schenck Process Food and Performance Materials business.
The FPM business, in Kansas City, MO, does business in over 150 countries, with approximately 85% of revenues generated in North America. FPM specializes in the design, manufacturing, and service of feeding, filtration, baking, and material handling technologies and systems that complement Hillenbrand's Advanced Process Solutions equipment and solutions.
Hillenbrand looks to upscale its food business, especially in the pet food sector, where FPM is a leading provider of equipment and systems.
"With this acquisition, we further strengthen our leadership across the attractive, growing end markets of food, durable plastics, and chemicals, through strong brands that enhance the breadth of our technology and service capabilities," said Kim Ryan, president and CEO of Hillenbrand. "By combining the applications and systems processing expertise of our Advanced Process Solutions segment with FPM, we will be positioned to offer greater value to our customers and drive scale benefits across manufacturing, engineering, and procurement."
During the last year, Hillenbrand acquired industrial businesses that serve large end markets that are underpinned by long-term, secular growth trends, Ryan added. "These actions have significantly transformed Hillenbrand into a global leader in highly-engineered, mission-critical industrial processing solutions."
Upon closing, FPM will become part of the Advanced Process Solutions segment.
The transaction is expected to close during Hillenbrand's fiscal fourth quarter of 2023.
