Mercer Group will buy a 75% stake in Titan Slicer of Nelson and a 25% stake in Titan Design for $1 million.
The stainless steel fabrication company says it will fund the purchase through a mixture of cash and bank debt.
Titan designs, makes and exports slicers, particularly for the bacon, ham, salmon and cheese sectors, and one its owners Sean Marr, will continue running the company.
Mercer's loss improved by a third to $1.1 million in the six months to December.
