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Praxair, Inc. (NYSE: PX), Danbury, CT, has agreed to acquire NuCO2 Inc. from Aurora Capital Group, a Los Angeles, CA-based private equity firm, for $1.1 billion in cash.
NuCO2 is a national provider of beverage carbonation solutions to the restaurant and hospitality industries in the U.S. The business is expected to generate full-year 2013 sales of $250 million. The company currently has 900 employees.
“NuCO2 offers a compelling value proposition for beverage carbonation,” said Eduardo Menezes, executive vice president of Praxair. “We plan to continue to grow the business in the United States, enhance distribution efficiency utilizing Praxair’s competencies in logistics, and extend NuCO2’s offerings to customers in other regions of the world.”