Emerson agrees to acquire cooper-atkins
St. louis--(business wire)--emerson (nyse: emr) has agreed to acquire cooper-atkins, a leading manufacturer of temperature management and environmental measurement devices and wireless monitoring solutions for foodservice, healthcare and industrial markets. cooper-atkins is a longtime technology leader in foodservice markets with a comprehensive offering of temperature management and monitoring products for spot inspection and fixed location uses, including restaurants, supermarkets and other places where food is handled, prepared and stored. their solutions are modernizing food quality management utilizing mobile and cloud-based quality, safety and compliance systems. “temperature management in food retail and restaurants is a dynamic market due to increasing regulatory requirements, rising labor costs and the proliferation of locations where fresh foods are prepared and served,” said robert t. sharp, executive president, emerson commercial & residential solutions. “this acquisition further strengthens our ability to meet the evolving needs of our cold chain customers – from grower to retailer – to help provide consistent and safe control of food and other temperature-sensitive goods.” cooper-atkins is a strong complement to emerson’s global cold chain business, which includes the proact™ services portfolio for supermarkets and the cargo solutions business, which provides real-time perishable cargo tracking and monitoring services. “we see food safety as a critical need that will shape demand in our end markets,” said emerson chairman and chief executive officer david n. farr. “cooper-atkins’ strong brand reputation and leading portfolio of automated temperature and monitoring solutions broadens our access to the foodservice industry.” cooper-atkins’ food quality portfolio strategically expands emerson’s broad cold chain portfolio of products and services for producer, retail, industrial and transportation customers. emerson’s market-leading compressor technologies, controls and connected solutions optimize energy consumption and operational performance in the assets powering supermarket, foodservice and refrigerated shipping operations. the added expertise from cooper-atkins significantly extends emerson’s global capabilities in monitoring food, its preparation, and other high-value shipments throughout the entire supply chain to preserve freshness and quality. headquartered in middlefield, conn., cooper-atkins is a privately-owned company with approximately 150 employees, and has offices and operations in ohio, florida and singapore. the acquisition is expected to close within the next 60 days, subject to various regulatory approvals. note: a short slide presentation with additional information is available here. about emerson emerson (nyse: emr), headquartered in st. louis, missouri (usa), is a global technology and engineering company providing innovative solutions for customers in industrial, commercial, and residential markets. our emerson automation solutions business helps process, hybrid, and discrete manufacturers maximize production, protect personnel and the environment while optimizing their energy and operating costs. our emerson commercial & residential solutions business helps ensure human comfort and health, protect food quality and safety, advance energy efficiency, and create sustainable infrastructure. for more information visit emerson.com. forward-looking and cautionary statements statements in this press release that are not strictly historical may be “forward-looking” statements, which involve risks and uncertainties, and emerson undertakes no obligation to update any such statements to reflect later developments. these risks and uncertainties include economic and currency conditions, market demand, pricing, protection of intellectual property, and competitive and technological factors, among others, as set forth in emerson’s most recent annual report on form 10-k and subsequent reports filed with the sec.
