TOMRA Acquires New Zealand Sorting Machine Manufacturer Compac For NZD 70M

TOMRA Systems ASA, has signed an agreement with the owners of Compac Holding Ltd (Compac) for 100 per cent of the shares in the company. Closing of the transaction is expected to take place during the first quarter of 2017, subject to approval by the New Zealand Overseas Investment Office.

TOMRA Sorting Food and Compac – solutions from farm to fork.

“The food market is large and continuously growing with requirements around food safety and quality becoming increasingly more stringent. Food producers are also consolidating, becoming larger, more sophisticated and more global. As a leading technology supplier into this industry we see clear advantages in mirroring this trend. With the acquisition of Compac, we reinforce TOMRA’s leading position within the food segment and we will be the first player to present an offering to our customers for sorting fresh and processed foods with both lane and bulk sorters.”, says Stefan Ranstrand, TOMRA’s President and CEO.

Compac – A leading provider of Lane Sorting within the Fresh Fruit and Vegetable Segment.

Compac is a New Zealand-based provider of post-harvest solutions and services to the global fresh produce industry. The company designs, manufactures, sells and services packhouse automation systems that sort fresh produce based on weight, size, shape, colour, surface blemishes and internal quality.

Established in 1984, today Compac employs approximately 700 people across locations in New Zealand, Australia, US, China, Latin America, South Africa, Spain and Italy. Compac has a leading position within the sorting of apples, kiwifruit, cherries, avocados and citrus. About 6000 Compac sorting lanes have been sold worldwide in over 40 markets.

“Market forces have driven double digit growth at Compac over recent years, and we have rapidly become a global business from humble New Zealand roots. Joining forces with TOMRA will enable us to continue to meet the increasing demands for our products and services in a more scalable and operationally efficient manner”, says Compac CEO Mike Riley.

TOMRA Sorting Food – leading sorting solution provider.

TOMRA Sorting Food designs and manufactures sensor-based sorting machines for the food industry. Over 5,900 systems are installed at food growers, packers and processors worldwide.

The company provides high-performance optical sorters, graders, peeling and process analytics systems for nuts and seeds, dried fruits, potato products, fruits, vegetables, meat and seafood.