A&B Process Systems, located near Wausau, is being acquired for $102 million by JBT Corp., a Chicago technology firm in the food processing industry.
The transaction is expected to close later this year, both companies said Wednesday in a press release.
A&B, headquartered in Stratford, specializes in the design, manufacturing, automation and installation of liquid foods production systems.
JBT Corp. does work in more than 25 countries, has 3,700 employees, and had $984 million in revenue in 2014.
"This transaction, like the four companies we acquired over the past year and a half, supports our strategy of acquiring leading companies that strengthen our protein processing and liquid foods portfolios.While we have significantly exceeded our 2017 acquisition growth target, we will maintain our disciplined pursuit of strategic opportunities," JBT chairman, president and CEO Tom Giacomini said.