Under CTB's ownership, Meyn will be able to continue its strategy to further build its position in the poultry processing industry, said Han Defauwes, Meyn president and CEO. Meyn's current structure will stay in place, and the company will become a new business unit of CTB. Meyn's management will also continue in their current roles.
"Meyn is a great match for CTB," said Victor A. Mancinelli, CTB's president and CEO. "The acquisition joins together leading companies in two distinct sectors of the poultry industry. Both companies are innovative in their approach, and both seek to partner with poultry companies to provide intelligent, forward-thinking solutions. The acquisition will provide CTB with the ability to offer global poultry companies total solutions from grow-out through the eventual processing cycle.”
The transaction is conditional upon approval by competition authorities and the Dutch works council.