BENTON HARBOR — Whirlpool Corp. said Monday it had an agreement to buy American Dryer Corp. of Fall River, Mass. Terms of the transaction were not immediately disclosed.
Whirlpool said the deal included a 300,000-square-foot manufacturing plant, an engineering and design center, and 230 employees. The world’s largest appliance maker said the plant “will become a valuable part of the Whirlpool manufacturing portfolio.”
American Dryer manufactures and markets coin-operated, on-premise, industrial and specialty laundry equipment.
Whirlpool said the acquisition will give the company “a platform to reach new markets and channels, while building on a strong foundation of industry-leading innovation, quality, and service.”
Whirlpool chairman and CEO Jeff M. Fettig said in a statement: “Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses. We believe this acquisition nicely complements our leadership position in the overall laundry category.”
Whirlpool said it expects to close on the purchase of ADC in early July with integration activities happening throughout the balance of 2015.
Whirlpool (NYSE: WHR) is the No. 1 appliance manufacturer in the world, with approximately $20 billion in annual sales, 100,000 employees and 70 manufacturing and technology research centers throughout the world in 2014. The company markets Whirlpool, KitchenAid,Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand names in more than 170 countries.
More at www.WhirlpoolCorp.com.