Norway's Tomra buys fruit sorter Compac for $70 million

Wed, 12 Oct 2016

By Paul McBeth Oct. 12 (BusinessDesk) - Norway's Tomra Systems has agreed to buy local fruit sorting company Compac Holdings for $70 million, subject to regulatory approval. The deal would see Tomra take 100 percent of the Compac company's shares, adding the Auckland-based packhouse automation systems maker to its global operations, it said in a statement. The deal is subject to Overseas Investment Office approval and is expected to close in the first quarter of next year. "Market forces have driven double-digit growth at Compac over...

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