The transaction will allow Whirlpool to reach new markets and channels, noted the release.
“Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses,” said Jeff M. Fettig, Whirlpool Corporation chairman and chief executive officer, in the release.
The acquisition is expected to be completed in early July, stated the release. Terms of the deal were not disclosed.
Whirlpool is the No. 1 major appliance manufacturer in the world, reported the release. It employs 100,000 workers and has 70 manufacturing and technology research centers throughout the world.
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