Welbilt To Sell Manitowoc Ice to Pentair

Welbilt expects to close the sale in the first half of 2022, concurrently with the closing of the acquisition of Welbilt by Ali Group.

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Pentair is acquiring Welbilt's Manitowoc Ice brand for approximately $1.6 billion in a move it says will position the company for growth within the foodservice industry. Courtesy of Canva.

Welbilt announced today it entered into a definitive agreement to sell its Manitowoc Ice business to Pentair for approximately $1.6 billion.

Pentair, a provider of water treatment and sustainable solutions, says the acquisition is a highly complementary offering that will expand its commercial water solutions platform and accelerate growth within the foodservice industry.

“We expect this strategic acquisition to be a game-changer for our commercial water solutions platform, establishing a differentiated, total water management offering and expanded network within the foodservice industry,” says John Stauch, Pentair president and CEO, in a press release. “Manitowoc Ice’s industry-leading global positions in an incredibly attractive industry, coupled with its strong track record of profitable growth and culture of innovation and sustainability, are expected to further establish Pentair as a leader in a vast and growing industry.”

Welbilt, which is being acquired by Ali Group, announced in October that the companies intended to divest Welbilt’s Manitowoc Ice brand to address concerns raised by the U.S. Department of Justice.

The manufacturer expects to receive regulatory approval for the sale of Welbilt to Ali Group from the U.S., United Kingdom and European Union before closing the sale of Manitowoc Ice to Pentair.

“We believe that this transaction is a good outcome for both Welbilt and Manitowoc Ice,” says Welbilt President and CEO Bill Johnson in a press release. “We are confident that the successful closing of this transaction will pave the way for Welbilt to complete its sale to Ali Group, while Manitowoc Ice will benefit from Pentair’s focus on water solutions and its diversified customer base and product lines.”

Welbilt expects to complete the sale of Manitowoc Ice in the first half of 2022, subject to customary closing conditions, concurrently with the closing of the acquisition of Welbilt by Ali Group.

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