ITW buys Germany's Meurer Group

Published: June 12, 2013 11:25 am ET
Updated: June 13, 2013 11:28 am ET

Related to this story

Topics Mergers & Acquisitions, Packaging

Illinois Tool Works Inc. has purchased Meurer Group, a secondary packaging equipment supplier that serves the worldwide fast-moving consumer goods market.

Meurer, located in Furstenau, Germany, will become part of ITW's Global Packaging Solutions Group, itself part of the company's Consumer Packaging Segment, joining Hi-Cone, Hartness International and ITW Warehouse Automation.

The deal should be completed in July pending government approval. Terms were not disclosed.

In recent months, Glenview, Ill.,-based ITW has drawn more attention for its divestitures than its acquisitions.

ITW, a manufacturing conglomerate with businesses ranging from equipment manufacturing to consumables, has been reorganizing its operations and undergoing an enterprise-wide portfolio management initiative, according to SEC filings.

Last year, the company divested a majority interest in its Decorative Surfaces segment and sold four other businesses — two consumer packaging businesses, a packaging distribution business and a welding manufacturing business.

According to its 2013 first quarter report, ITW plans to divest two transportation related business, a machine components business, two construction distribution businesses and a chemical manufacturing business within the next year.

ITW is also reviewing its industrial packaging segment and may spin-off or sell that business, according to the report.

ITW reported sales of more than $17 billion in 2012, up slightly from the previous year.


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ITW buys Germany's Meurer Group

Published: June 12, 2013 11:25 am ET
Updated: June 13, 2013 11:28 am ET

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