JBT sells AeroTech to Oshkosh for $800M cash; expects Q3 2023 close

JBT MAREL Corp

All-cash sale valued at $800M; multiple ~14.7x trailing 4Q adjusted EBITDA as of March 31, 2023.
AeroTech classified as held for sale; reported as discontinued operations starting Q2 2023.
Dilutive impact to Q2 GAAP EPS from cont. ops ~$0.33; adj. EPS ~$0.40.
Net proceeds used for debt repayment and FoodTech inorganic growth.
Special $400K bonus approved for EVP and President of AeroTech, contingent on deal close.

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