Manitowoc Sells Kysor Display Business

The Manitowoc Co. is spinning off Kysor/Warren, a maker of refrigerated display merchandisers and systems for the retail grocery and c-store markets. On Dec. 15, the company announced a definitive agreement for the divestiture of its Kysor/Warren and Kysor/Warren de Mexico businesses to Lennox Int’l. for approximately $138 million.

The divestiture will not impact Kolpak, RDI or other Manitowoc Foodservice walk-in businesses. The Wisconsin company affirmed its commitment to manufacturing and selling walk-in panels and refrigeration systems through its existing partners and its continued support of existing sales channels.

According to a statement released by Manitowoc Chairman and CEO Glen E. Tellock, the company plans to hone its focus on its portfolio of foodservice brands. “We believe the value of Kysor/Warren will be better leveraged under Lennox’s ownership,” he said. “In addition, this divestiture will allow us to intensify the focus on our strategic imperatives including greater innovation around our core brands, improving operational efficiencies across our global footprint, and driving organic growth opportunities.”