If the local government permits it, FPS Food Process Solutions (FPS) could soon acquire majority control of Charlottetown Metal Products (CMP), according to the latest press release surrounding the pending merger.
A turnkey food freezing and cooling equipment provider, FPS has been pursuing rapid expansion since it was founded in 2010. The company, which is helmed by President Jeffrey Chang, has offices in Vancouver, British Columbia, Canada; the southeastern United States; Brazil; China; the Netherlands; and now the east coast of Canada.
Meanwhile, for over 60 years, CMP has been designing and building custom food processing equipment for a multitude of global industries. It is one of the top employers in Prince Edward Island, Canada, with a staff of 80. FPS is seeking to expand the company’s existing 43,000 square-foot facility in Milton, Prince Edward Island, and has plans to double CMP’s facility, staff, and revenues in the next three years, it said in a prepared statement.
“With a shared focus for hygienic design, CMP is a timely and strategic fit that will add to our capabilities in diversifying product line offerings,” said FPS’s Chang. “The acquisition accelerates our expansion in North America, as part of our global growth."
“We are excited to join FPS and look forward to serving our clients as a combined force,” added Trevor Spinney, who serves as the current president of CMP. “FPS holds a powerful commitment to innovation and hygienic design which will enable CMP to increase our value to our clients and grow our business as we collectively work to deliver best in class sanitary processing equipment to the industry. Our Eastern Canadian location offers close proximity to clients along the eastern seaboard of Canada and the United States for FPS. We are looking forward to contributing to the continued growth and business success of FPS.”
If the acquisition pans out, Spinney will continue to manage the day-to-day operations at CMP, FPS said.
Image courtesy of FPS Food Process Solutions
