MOCON, Inc. MOCO today announced that it has signed an agreement to
acquire PBI-Dansensor A/S (Dansensor) of Ringsted, Denmark, a privately-held
leading manufacturer of specialized instrumentation for Modified Atmosphere
Packaging (MAP) of foods, beverages, pharmaceuticals, and other perishable
items. In 2011, Dansensor recorded sales of approximately $19.3 million.
The acquisition agreement contains customary closing conditions, and MOCON
expects the closing to occur on or about April 2, 2012. Under the terms of the
acquisition agreement, MOCON will pay an aggregate amount of approximately
$20,000,000, two-thirds of which will be paid in cash at closing, and the
remainder of which will be paid over four years pursuant to a seller note.
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