Benton Harbor-based Whirlpool is a global maker of appliances, such as washing machines. Photo via fb.com
An appliance maker is “driving growth in an adjacent business” by acquiring a company that makes commercial laundry equipment.
Whirlpool Corporation in Benton Harbor said yesterday it has entered into an agreement to acquire the privately held American Dryer Corporation, or ADC.
ADC makes coin operated, industrial and specialty laundry equipment.
Whirlpool expects to close on the purchase of ADC in early July, with integration activities happening throughout the balance of 2015.
Terms of the “planned, non-reportable transaction” will not be disclosed.
Commercial laundry operation
ADC is headquartered in Fall River, Mass. and is home to about 230 employees, a 300,000-square-foot plant and modern engineering and design center.
The company has been around for five decades and markets its products in 90 countries.
"New markets and channels"
Whirlpool said the ADC plant will become “a valuable part” of its manufacturing portfolio.
Maytag and Whirlpool brands have a strong heritage in commercial laundry, according to Brett Dibkey, VP, North American Integrated Business Units, Whirlpool Corporation.
"The addition of ADC is yet another step toward our goal of building the industry's best, most reliable full line of commercial laundry equipment,” Dibkey said.
Whirlpool said the acquisition gives its commercial laundry business “a platform to reach new markets and channels,” while building on its “strong foundation” in the industry.
Whirlpool Chairman and CEO Jeff Fettig said the acquisition 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,” Fettig said.
Whirlpool reported about $20 billion in annual sales in 2014.
The company markets brands such as Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and others in more than 170 countries.