JBT Corporation (NYSE: JBT), a global technology solutions provider to high-value segments of the food & beverage industry, announced today the completion of its previously disclosed agreement to purchase Tipper Tie. The agreement to acquire the company was announced on October 3, 2016. The purchase price was $160 million, before customary post-closing adjustments.

JBT Corporation (NYSE: JBT) is a leading global technology solutions provider to high-value segments of the food & beverage industry with focus on proteins, liquid foods, and automated system solutions. JBT designs, produces and services sophisticated products and systems for multinational and regional customers through its FoodTech segment. JBT also sells critical equipment and services to domestic and international air transportation customers through its AeroTech segment. JBT Corporation employs approximately 4,500 people worldwide and operates sales, service, manufacturing and sourcing operations in more than 25 countries.

For more information, please visit www.jbtcorporation.com.