Vanderlande, the warehouse automation specialist, is to be bought by Toyota Industries Corporation (TICO) after the company signed an agreement this week to buy Vanderlande from its current owner NPM Capital.
Under the terms of the deal Vanderlande will continue with its existing name and corporate identity and will operate as standalone business from the same locations it is already in around the world.
The acquisition has been fully approved and supported by Vanderlande’s supervisory and management boards, and works council.
The move comes as part of TICO’s plans to increase its presence in automated material handling. It follows the recently announced expansion in North America with the acquisition of Bastian Solutions LLC.
Norio Wakabayashi, managing officer for TICO and the designated chairman of Vanderlande’s supervisory board, said: “Vanderlande complements our current offering by providing a full range of integrated automated material handling solutions. We also see a strong strategic match in our extensive sales and service networks. This acquisition creates even better global coverage across almost all of the markets that have a requirement for automation.”
NPM Capital’s managing director, Bart Coopmans, said: “NPM Capital has had a long-term focus with respect to investing in Vanderlande since the start in 1988. We have continuously supported investments in the organisation and its technological capabilities, resulting in Vanderlande’s current market-leading positions. The entry of Toyota as a strong strategic shareholder will enable Vanderlande to take the next step in its growth trajectory.”
Vanderlande’s CEO, Remo Brunschwiler, said the acquisition would help the company’s expansion. “The financial strength behind TICO and its global presence will help our company to continue with its strategy of sustainable profitable growth,” he said.
The transaction is subject to customary regulatory approvals is expected to be completed in the second quarter of this year.
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