Hoshizaki Buys Jackson From Manitowoc

The Manitowoc Co. announced on Jan. 28 that it has sold its Jackson MSC warewashing business to Hoshizaki USA Holdings. Specific terms of the asset sale were not disclosed. Jackson, based in Barbourville, Ky., manufactures a broad line of warewashing equipment systems, including conveyor, flight-type and undercounter units. Hoshizaki makes it headquarters in Peachtree City, Ga.

“The sale of the Jackson product line reinforces our commitment to our core commercial foodservice business, while enabling us to direct resources toward areas that further our strategic initiatives and drive profitable growth,” said Glen Tellock, Manitowoc’s chairman and CEO.

The Manitowoc, Wis., firm says it will use the transaction’s net proceeds—approximately $26 million—to further reduce its secured long-term debt. Manitowoc has more than 115 manufacturing, distribution, and service facilities in 25 countries. Its Manitowoc Foodservice division includes 25 brands of hot- and cold-focused equipment. In 2011, Manitowoc’s revenues totaled $3.7 billion, with more than half of these revenues generated outside of the United States. An interview with Phil Dei Dolori, exec. v.p.-Americas Cooking Solutions, appeared in last week’s Fortnightly. Read it here.

Hoshizaki is a worldwide manufacturer of foodservice equipment based in Japan but with manufacturing and distribution operations worldwide, including the U.S. While the company’s core products in North America have centered around ice machines, refrigeration and the Lancer beverage dispensing brand, it has had warewashing products in the U.S. for several years.