Pentair Inc (PNR.N) said it agreed to acquire Clean Process Technologies from privately held Norit Holding B.V. for about $705 million in a move to strengthen its position in the food and beverage sector, and expand in China, Latin America and the Middle East. Clean Process specializes in membrane solutions and clean process technologies in the high growth water and beverage filtration and separation segments, Pentair said. The business is expected to have full-year 2011 sales of more than $350 million, Pentair said.
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