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New Deal


Announced

Duravant to acquire Cloud Packaging Solutions from Hearthside Food Solutions.

Financials

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Transaction Value-
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Majority

United States

Single Bidder

Machinery: Industrial

Acquisition

Domestic

Private

Friendly

flexible packaging

Pending

Synopsis

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Duravant, a provider of global engineering equipment and automation solutions to the food processing, packaging and material handling sectors, agreed to acquire Cloud Packaging Solutions, a manufacturer of high-speed horizontal flexible packaging equipment, from Hearthside Food Solutions, a manufacturer of grain-based food and snack products. Financial terms were not disclosed. “The Cloud equipment portfolio perfectly aligns with Mespack’s product solutions. Cloud’s highly regarded service team coupled with our SupportPro technicians means more feet on the street servicing Duravant flexible pouch equipment. Companies ranging from a multi-national CPG to a regional contract packager have a fit-for-purpose, best-in-class solution available to them through Duravant,” Mike Kachmer, Duravant President and CEO.

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