German machinery manufacturer Krones Group has signed an agreement to acquire 90% of Ampco Pumps Company LLC. The company has been providing centrifugal and positive displacement pumps worldwide for more than 70 years. In 2022, Ampco Pumps generated revenue of approximately US$50 million.
Wisconsin, USA-based Ampco Pumps supplies sanitary pumps and applied products like mixing and blending equipment to the food, beverage, dairy processing, personal care and pharmaceuticals markets. Current Ampco Pumps management will remain with the business and will continue to hold the remaining 10% of the shares of the company. Krones has an option to buy the 10% stake in the future.
The acquisition of Ampco Pumps is a major step in expanding Krones Processing’s components business. With Ampco Pumps and Evoguard Valve Technology, Krones now has a broad portfolio of key components for the processing technology market