# Glenalta combines business with CFT via reverse takeover

Glenalta, a special purpose acquisition company, combined its business with CFT, a manufacturer of food processing and packaging machines, through a reverse takeover. CFT's shares became listed on AIM Italia, and Glenalta will spend approximately EUR 88 million on CFT's development.

- Type: Acquisition
- Announced: 2018-07-05
- Where: Italy
- Value: $103.0M (88.0M EUR)
- Status: completed
- Products: food processing and packaging machines
- Sectors: [Food Processing Equipment](https://endata.com/sectors/food-processing-equipment.md)

## Companies

- [CFT Group](https://endata.com/companies/3629.md) (target)
- [Glenalta](https://endata.com/companies/30380.md) (acquirer)

## Sources

- [mondaq.com](https://mondaq.com/corporate-and-company-law/716636/sayenko-kharenko-advised-glenalta-on-combination-of-its-business-with-cft), 2018-07-05: "Following the Transaction performed through reverse takeover, CFT's shares became listed on the Italian Alternative Investment Market (AIM Italia) with a free float equal to approximately 51.51% of CFT's share capital."
- [edisongroup.com](https://www.edisongroup.com/research/food-for-thought/22697/), 2018-11-19: "The recently completed merger between Glenalta and CFT creates a business with significant funding to support the group’s ambition to be a leading consolidator of processing, packaging and sorting technologies in the food and beverage sector."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.