1 September 2000
IMI ACQUIRES JUICE DISPENSING EQUIPMENT BUSINESS IN US
IMI plc, the major international engineering group, today announces that it
has acquired the in-house juice dispenser manufacturing business of US based
Vitality Foodservice for a cash consideration of £3.5m. The two companies
have entered into a 10 year supply agreement under which IMI will manufacture
and supply all existing equipment models, and develop innovative new products
for the future. Annual sales are around £5m.
Vitality Foodservice is a Florida based subsidiary of Vitality Beverages Inc,
a leading provider of juice and other beverage products to the foodservice
industry, with annual sales of approximately $700m.
Martin Lamb, IMI Executive Director responsible for the Drinks Dispense
'This is an important step in consolidating our position as the leading
supplier of juice dispense equipment in the US market. We are delighted to
have Vitality as a partner.'
Martin Lamb, Executive Director Tel: 0121 356 4848
Ben Padovan Tel: 020 7329 0096