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Manitowoc Sale
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Manitowoc sale paves way for Ali Group

Welbilt is divesting its Manitowoc® Ice business. The transaction enables the acquisition by Ali Group.

For a purchase price of approx. US$1.6 billion, excluding liabilities and liquidity, Welbilt's Manitowoc Ice subsidiary will go to Irish conglomerate Pentair plc, subject to customary post-closing adjustments. This clears the way for Welbilt to be acquired by Ali Group. 

Transaction paves way for acquisition

Commenting on the deal, Bill Johnson, President and CEO of Welbilt, said: "We believe this transaction represents a good outcome for both Welbilt and Manitowoc Ice. We are confident that the successful completion of this transaction will pave the way for Welbilt to complete its sale to Ali Group. 

Manitowoc Ice, on the other hand, will benefit from Pentair's focus on water solutions and its diversified customer base and product lines."

Welbilt expects to receive regulatory approvals for the sale of Welbilt to Ali Group in the U.S., U.K. and European Union prior to the closing of the sale of Manitowoc Ice to Pentair. The closing of the sale of Manitowoc Ice is planned for the first half of 2022, subject to customary closing conditions, and concurrent with the closing of the acquisition of Welbilt by Ali Group.

Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment, and had sales of approximately $308 million in 2021.