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Paul Mueller looks to acquire European licensee

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Paul Mueller Co. plans to purchase the outstanding shares of its European licensee that manufactures Mueller-designed dairy farm milk coolers.

Springfield-based Mueller said this morning that it has signed a letter of intent with Rollbas BV to acquire Paltrok Beheer BV, which Rollbas wholly owns. Paltrok’s manufacturing facility is in Lichtenvoorde, The Netherlands.

The transaction is contingent on a definitive share purchase agreement and approval from certain authorities, including the Mueller board of directors, according to a company news release.

Mueller shares (OTC: MUEL.PK) closed Tuesday at $54, compared to a 52-week range of $43 to $75.70.

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