By Tony Wittkowski | Business Reporter | The Herald-Palladium
BENTON HARBOR – Whirlpool Corp. has entered into an agreement to acquire American Dryer Corp., a privately held company that builds and markets 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 rest of 2015.
“Acquiring ADC strengthens our commitment to the commercial laundry industry and is aligned to our objectives of driving growth in adjacent businesses,” said Jeff Fettig, Whirlpool Corp. chairman and CEO. “We believe this acquisition nicely complements our leadership position in the overall laundry category.”
ADC has headquarters in Fall River, Mass., and is home to about 230 employees, a 300,000-square-foot factory and engineering and design center. The ADC factory will be absorbed by Whirlpool.
Whirlpool Corp. makes and markets Whirlpool, KitchenAid, Maytag, Consul, Brastemp, Amana, Bauknecht, Jenn-Air, Indesit and other major brand name appliances in more than 170 countries.
“Our Maytag and Whirlpool brands have a strong heritage in commercial laundry,” said Brett Dibkey, vice president of the North American Integrated Business Units for Whirlpool. “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.”
Terms of the planned transaction and how much the deal is worth have not been disclosed.
(Author’s Note: This article was originally published on May 29, 2015)