Cornelius Gets New Parent: Berkshire Hathaway’s Marmon Group

IMI is selling its beverage dispensing and merchandising businesses, including 82-year-old Cornelius, to the Berkshire Hathaway-owned Marmon Group.

The Glendale Heights, Ill.-based Cornelius, which makes valves and dispensers and other parts for beer, juice, soft-drink and frozen-drink equipment, accounts for about 14% of IMI’s overall revenue.

In addition to Cornelius, the $1.1 billion sale includes 3Wire, the online parts business, and Display Technologies, as well as IMI’s merchandising businesses. Upon closing early next year, the businesses will become part of the Chicago-based Marmon Retail and End User Technologies Co., one of three Marmon companies that together comprise approximately 160 independent manufacturing and service businesses worldwide. Marmon also owns Prince Castle and Silver King.