Domino Printing Sciences said the value of its investment in egg monitoring firm TEN Media had jumped by 25 million dollars in just one year.
In April 2011 Domino invested $50m in TEN, a business based in California set up to implement improved food safety monitoring, freshness and traceability systems in the egg industry.
Today the firm said Omron Automation & Safety, a supplier to the project, had invested as a minority shareholder, valuing TEN at $500m, a 50% increase in value.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Omron's investment dilutes Domino's holding down to 14.85%, valuing it at $74.25m.
The firm is set to provide manufacturing and procurement services, automation hardware and engineering support to TEN.
"We are delighted that Omron, a significant supplier from the outset of the project, has decided to become a strategic partner in the business venture through this investment," said Nigel Bond, Domino's Managing Director.
"Omron, a proven technology provider over many years, will help enhance TEN's product offerings and is a great addition to the team."
-
8 of the best houses for sale with annexesThe best houses with annexes – from a period property in the Lake District to a 13th-century house with a two-bedroom annexe in Saltwood, Kent
-
Zelenskyy moves to appease Donald Trump – what happens now?Ukraine’s president Volodymyr Zelenskyy is conceding ground to secure the least-worst deal possible, says Emily Hohler
