By The Nation
The acquisition broadens Electrolux's scope in its food service business and will accelerate its growth in the professional products sector.
Grindmaster-Cecilware had net sales in excess of US$65 million in 2016 and approximately 200 employees. The cash consideration in the transaction is $108 million. The company is based in Louisville, Kentucky and has manufacturing facilities in Louisville and in Rayong, Thailand. Grindmaster-Cecilware sells products under the market-leading brands Grindmaster, Cecilware, Crathco and American Metal Ware.