CTB International

Last updated
CTB, Inc.
Company type Subsidiary
Industry Manufacturing
Founded1952;72 years ago (1952)
Headquarters Milford, Indiana, U.S.
Area served
Worldwide
Key people
Victor A. Mancinelli (chairman and CEO)
Products Agricultural equipment
Egg production equipment
Food processing equipment
Food traceability software
Grain preservation equipment
Pork production equipment
Poultry production equipment
Precision molded plastic components
Grain silos
Number of employees
Approx. 3000
Parent Berkshire Hathaway
Website www.ctbinc.com

CTB, Inc. is a global designer and manufacturer of systems for preserving grain, producing poultry, pigs and eggs, and processing food and a subsidiary of Berkshire Hathaway. The company is headquartered in Milford, Indiana., and employs approximately 3,000 people worldwide. [1]

Contents

History

The company was initially founded under the name Chore-Time Equipment in 1952, manufacturing poultry, egg and pig production equipment. In 1957, the sister company of Brock Grain Systems was founded, focusing on grain storage. Using the initials of both companies, the brands incorporated under the CTB name in 1976. [2] [3]

On August 19, 2002, CTB International Corp signed a merger agreement with Berkshire Hathaway Inc. CTB became a wholly-owned subsidiary of Berkshire Hathaway once the transaction was complete on October 31, 2002. [4] [5] [6]

Acquisitions

CTB, Inc., has expanded through acquisitions both before and since becoming a subsidiary of Berkshire Hathaway. [7]

In 2006, CTB bought a controlling interest in AgroLogic, an Israeli company that makes climate control and weighing systems for agricultural use. [2] In 2010, CTB bought Ironwood Plastics, a Michigan-based producer of plastic components used for automobile, military and industrial applications. [8] The goal of the acquisition was to add capabilities in the plastics segment with the intention of benefitting all CTB business units. [9]

In May 2012, CTB acquired Meyn Holdings, owners of Meyn Food Processing Technology, a Dutch firm that manufactures machines used by poultry integrators to process poultry. [10]

CTB purchased Martin Industries Corp. in December 2012. Martin and its subsidiaries, including Des Moines, Iowa-based LeMar Industries, manufacture bucket elevators, grain conveyors, grain facility structures and other devices for loading and unloading crops from storage. [11]

CTB purchased Holding Hamon Development, a designer and manufacturer of buildings for the poultry industry, in February 2016. This is the parent company of Serupa SAS, which makes buildings for meat-processing and poultry storage. [12]

In September 2016, CTB acquired a majority stake of Cabinplant, a Danish food processing equipment supplier with subsidiaries in Poland, Germany, Spain and the U.S. [13]

Primary Brands

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References

  1. ↑ Staff reports. "You may know about Geico and Dairy Queen, but here are 5 Berkshire companies you may not know". Omaha.com. Retrieved 2020-10-13.
  2. 1 2 3 4 5 "Buffett company buys two more Israeli companies: AgroLogic and Cellulogic". Haaretz. Retrieved 2020-10-13.
  3. 1 2 3 4 Key, Peter (September 1, 1997). "Farm Supplier Emerging From Shell". The Indianapolis Star.
  4. ↑ "Buffett to buy Milford farm equipment maker". KPCNews. Retrieved 2020-10-13.
  5. ↑ Maynard, Mike. "CTB International agrees to unusual buyout". MarketWatch. Retrieved 2020-10-13.
  6. ↑ "Buffett Firm to Purchase CTB". The Fresno Bee. August 20, 2002.
  7. ↑ "Warren Buffett's CEOs are big spenders too". Financial Post. Retrieved 2020-10-13.
  8. 1 2 News, Bloomberg. "Buffett's farm-product business acquires Ironwood Plastics". www.jsonline.com. Retrieved 2020-10-13.{{cite web}}: |last= has generic name (help)
  9. ↑ "Plastics supplier Ironwood sought advice before sale to Berkshire Hathaway unit". Automotive News. 2011-01-03. Retrieved 2020-10-13.
  10. 1 2 "Buffett buys Dutch poultry-processing device maker". Reuters. 2012-05-04. Retrieved 2020-10-13.
  11. 1 2 "Berkshire's CTB Buys Martin to Expand Grain-Handling Unit". Bloomberg.com. 2012-12-31. Retrieved 2020-10-13.
  12. 1 2 "Buffett's CTB Buys Hamon for Poultry Processing in French Market". Bloomberg.com. 2016-02-01. Retrieved 2020-10-13.
  13. 1 2 "Buffet-owned CTB takes majority stake in Cabinplant | Intrafish". Intrafish | Latest seafood, aquaculture and fisheries news. 5 September 2016. Retrieved 2020-10-13.
  14. ↑ "CTB acquires CAT Squared". www.refrigeratedfrozenfood.com. Retrieved 2021-05-05.
  15. ↑ "Why precision farming takes its time with pigs". PigProgress. 18 September 2017. Retrieved 2021-05-05.
  16. 1 2 3 4 Labitan, Bud (April 14, 2012). Moats: The Competitive Advantages of Buffett and Munger Businesses (PDF). Lulu. pp. 101–104. ISBN   9781105422867.{{cite book}}: |website= ignored (help)
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