June 12, 2013
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.