Praxair, a US-based industrial gas supplier, has acquired beverage carbonation solutions provider NuCO2 for $1.1bn from private equity investment firm Aurora Capital Group.
NuCO2, with 162,000 customer locations and 900 employees, serves fountain beverages to quick service restaurants and convenience stores in the US.
With this move, Praxair is set to grow its beverage carbonation businesses domestically and internationally through expanded product and service offerings.
Praxair executive vice president Eduardo Menezes said that NuCO2 will fit directly within the company's strategy of building density and providing customer reliability.
"It will continue to operate with a focus on customer service and will benefit from Praxair's strong competencies in distribution and productivity," Menezes added.
The business is expected to generate full year sales of around $250m and earnings before interest, taxes, depreciation, and amortization of $115m in 2013.
