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ACQUISITION OF MILMEQ’S
CHILLING AND FREEZING BUSINESS
Mercer Group Limited (MGL) has
announced that its wholly owned
subsidiary Haden & Custance 2016
Ltd (H&C), has entered into an
agreement to acquire the chilling
and freezing business of Milmeq
Limited.
The transaction was due to settle
on 28th February 2019 according
to a release: “This will provide
more scale and diversification to
MGL, and is aligned with our stated
strategy of investing in technology
led businesses”.
Milmeq’s chilling and freezing
business designs, manufactures
and installs automated chilling
and freezing tunnels and plate
freezing systems into the meat,
poultry, dairy and seafood
industries globally. It has strong
market positions in the red meat
industry in Australia and the cheese
production sector globally. It has
an installed base of over 140 plate
freezer stacks in Australia and 110
carton tunnels globally. In addition
to its core product offering, Milmeq
has a growing asset management
business that provides service,
spare parts and support to its
customers.
The release says that there is
significant customer crossover
between H&C and Milmeq.
“This should allow the combined
business to provide further
automated products and solutions
to its customer base, leveraging
the complimentary skills of the two
businesses. Milmeq has a strong
presence in Australia, with an office
in Brisbane, providing more direct
customer contact and ability to
provide services for H&C’s growing
business in that country. At the
same time, the H&C presence in
Green Bay, Wisconsin, will allow for
more targeted growth of Milmeq’s
products in the North American
markets.
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