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ATLAS PACIFIC ENGINEERING CO. ANNOUNCES ACQUISITION OF BROWN INTERNATIONAL CORP.
COVINA, CA December 16, 2005 --
Atlas Pacific Engineering Co., the world leader in deciduous fruit processing equipment, today announced it has agreed to acquire Brown International Corp., the premier global supplier of citrus extraction equipment.
“We are pleased to join forces with Brown, as they give us an entrée into the citrus business and broaden the possibilities for future growth,” said Erik Teranchi, President and CEO of Atlas Pacific, based in Pueblo, Colorado. ”We look forward to being a part of this very exciting venture.”
“This alignment, with a company in a similarly strong position in the food processing equipment industry, will provide Brown with continuity and expanded opportunities for robust growth,” said Scott Alexander, Brown International’s principal owner and CEO. “Brown has never been stronger under the leadership of Bryce Adolph and our other experienced senior managers. This merger represents the next logical step in Brown’s expansion and evolution.”
“Brown International is in a good position. With the additional resources that Atlas Pacific brings, we have enhanced our ability to implement our business growth plans, introduce new products and meet the needs of a dynamic citrus industry,” said Bryce Adolph, who will remain president of Brown International at its headquarters in Covina, Calif. “This new combination of companies will enhance Brown’s competitive edge through investment of new capital, expanded customer and geographic opportunities, and an even stronger global presence.”
Upon completion of the acquisition, Brown International will retain its name and operate as a subsidiary of Atlas Pacific.
The definitive agreement to purchase was signed Dec. 15 and closing is expected in approximately one week. Terms of the transaction were not disclosed. Chanin Capital Partners and O’Melveny & Myers LLP served as advisors to Brown International in this transaction. Morrison & Forester LLP served as advisor to Atlas Pacific.
About Brown International Corp.
Founded in 1938, Brown International is the premier global supplier of equipment to extract juice and oils from citrus fruit. The company installs and maintains its proprietary systems in citrus processing facilities throughout the world. It is the industry leader in extraction equipment for fresh, not-from concentrate juice, which now accounts for more than 48% of the U.S. orange juice market. Brown International is headquartered in Covina, Calif., with its subsidiary Brown Citrus Systems Inc. located in Winter Haven, Fla. and Mission, Tex. International offices are in Montemorelos, Mexico; Berri, Australia; and Nelspruit, South Africa and international representatives are in Argentina, Canada, Israel and Asia. For more information about Brown International please call 626-966-8361 or visit www.brown-intl.com.
About Atlas Pacific Engineering Co.
Atlas Pacific Engineering Company and its subsidiaries have been major worldwide designers and manufacturers of fruit and vegetable processing and tuna fish filling equipment for more than 50 years. The company manufactures equipment for peeling, coring, slicing, pitting and stemming fruits and vegetables. Atlas Pacific‘s world headquarters and manufacturing facility is in Pueblo, Colo. Regional and international sales and service offices are in Modesto, Calif.; Winchester, Va.; Shepparton, Australia; Milan, Italy; and Paarl, South Africa. For more information about Atlas Pacific please call 719-948-3040 or visit www.atlaspacific.com.
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Contacts
Atlas Pacific Engineering Co.
Erik Teranchi, President & CEO
(919) 948-3040
eit@atlaspacific.com
Brown International Corp.
Bryce Adolph, President
(626) 966-8361
bryce.a@brown-intl.com
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