Florida-based Petrone Worldwide, supplier of food and beverage and culinary equipment to worldwide hotel chains has announced that it is expanding its food service disposables, and has signed an agreement to acquire Moradabad, India,-based Transpower Component Private Ltd. Transpower Component manufactures food service disposable aluminum products such as steam table pans, rounds, squares, oblongs, ovals in a variety of sizes with coordinating lids. This strategic acquisition will allow Petrone Worldwide to significantly advance its disposables strategy throughout Europe, U.S.A., South & Central America and consolidate an already established Indian market, says Bloomberg Business.
“We evaluated many companies to determine the best fit for the acquisition of our organization. Transpower is the ideal organization based on its ability to augment our current capabilities and its significant market strength in the food service segment,” said Victor Petrone, CEO, Petrone Worldwide.
“Upon completion of the deal, we look forward to expanding Transpower’s well-established low-cost operations and investing in additional manufacturing capabilities, quality systems and design services to deliver more value, lower costs and faster time-to-market to our customers” said Ajay Handoo, director of global networking at Petrone.