Kysor/Warren, a business that produces refrigerated display merchandisers and other appliances for the foodservice retail industry, was sold for approximately US$138 million. A Manitowoc press release has said the divestiture will have no impact on the company’s other businesses, including Kolpak and RDI.
“Over the last several years, Manitowoc has built a strong portfolio of leading brands serving the commercial foodservice industry, and we believe the value of Kysor/Warren will be better leveraged under Lennox’s ownership,” said Glen E. Tellock, Manitowoc’s chairman and CEO. “In addition, this divestiture will allow us to intensify the focus on our strategic imperatives, including greater innovation around our core brands, improving operational efficiencies across our global footprint and driving organic growth opportunities.”
