CPM Acquisition Corp. (CPM) and TSA Griddle Systems, Inc. (TSA) have announces the sale of TSA to CPM.
CPM is a leading supplier of process equipment for thermal processing, liquid-solid separation, particle size preparation, extrusion and related equipment. TSA is a US-based manufacturer of industrial griddles and related machinery.
The transaction builds upon CPM's leading position in breakfast and ready-to-eat food markets.
"This transaction aligns with CPM's business strategy to acquire great companies that complement our product portfolio and customer segments," said Ted Waitman, president of CPM.
"CPM is committed to providing its customers with equipment and aftermarket support to achieve the lowest total operating costs, maximizing customer profitability."
The sale also benefits TSA, according to TSA president Kevin Forrest, who had the following to say about the acquisition of the company: "The sale allows TSA to leverage CPM resources for growth, including sales in international markets, broaden order fulfillment capabilities and to align resources with Wolverine Proctor," said Forrest.
Both CPM and TSA look forward to advantages of working together.
Headquartered in Carrollton, Texas, TSA is the leading griddle technology provider in the world, serving quick-serve, breakfast and frozen food end markets. Founded in 1994, the company has 18 employees serving markets around the world from its North American location. For more information, visit griddlesystems.com.