German firm grows in U.S. through Tampa

Krones, a Germany-based conglomerate that manufactures machines used in filling and packaging, has acquired 80% ownership of Tampa-based Trans-Market Sales & Equipment Inc.

Terms of the deal weren't disclosed.

Trans-Market's niche is in process engineering and automation for the liquid food packaging industry, according to a statement. The company does about $30 million a year in sales and has more than 50 employees, the statement adds. The company has two locations in Texas, in addition the Tampa headquarters.

The previous owners of Trans-Market will retain a 20% ownership in the company. Krones is financing the acquisition with available funds, the release states.