Japanese carmaker Toyota Industries Corp today struck a deal to buy Dutch package and baggage handling equipment and software maker Vanderlande Industries, for about €1.2 billion $1.3 billion).
The deal comes a year after Toyota expanded in North America with the acquisition of Bastian Solutions.
The acquisition has been fully approved by Vanderlande's board, and works council and the company will retain its name and corporate identity, as well as continue its operations as a standalone entity.
Founded in 1949, privately-held Vanderlande is a specialist in material handling systems for the retail and parcel handling industries and is one of the world's major companies of passenger baggage handling systems for airports.
Vanderlande, owned by NPM Capital NV, also develops and manufactures a full lineup of sorters, conveyors, and other materials handling equipment and software.
Vanderlande has 50 sites around the world and employs around 4,500 people and has annual revenues of ¥130 billion.
Norio Wakabayashi, managing officer and the designated chairman for Vanderlande's 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.''