Crane Acquires Assets From Automatic Products

Crane Co., an industrial equipment manufacturer, has announced an agreement to purchase several assets from vending machine maker Automatic Products International Ltd. for $31 million.

The industrial equipment manufacturer will acquire Automatic Products’ distribution network, product line designs, trade names, manufacturing equipment and aftermarket parts under the agreement.

The initial closing is planned for next week, while the manufacturing assets transfer will close in September. This will allow adequate time for the relocation of the equipment to Crane's St. Louis facility.

Automatic Products is based in St. Paul, Minn. and the company will retain its St. Paul manufacturing facility.