Whirlpool to Buy American Dryer Corp.
Whirlpool Corp. recently entered into an agreement to acquire American Dryer Corp. (ADC), in a move aimed at strengthening the Michigan-based appliance maker’s commercial laundry platform.
“Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses,” says Jeff M. Fettig, chairman and CEO of Whirlpool, based in Benton Harbor MI. “We believe this acquisition nicely complements our leadership position in the overall laundry category.”
Whirlpool, a $20 billion company with 70 manufacturing and research centers worldwide, expects to complete the sale early in July. Whirlpool will spend the balance of 2015 integrating ADC into its portfolio. Based in Fall River, MA, ADC has 230 employees in its 300,000-square-foot manufacturing facility that includes a state-of-the-art engineering and design center. Terms of the transaction weren’t disclosed.
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