The acquisition activity among foodservice equipment manufacturers and dealers has maintained its brisk pace. The latest deal has Electrolux Professional acquiring Unified Brands for approximately $244 million. The deal is expected to close in the fourth quarter of 2021 and remains subject to customary closing conditions, etc., per a release announcing the deal.
Part of Dover’s Refrigeration & Food Equipment segment, Unified Brands is a multiline foodservice equipment manufacturer who sells products under such brand names as Avtec, Capkold, Groen, Power Soak and Randel. Unified Brands is expected to generate $135 million in sales in 2021, per a release announcing the transaction. Dover has owned Unified Brands for more than 50 years.
The formation of Electrolux Professional was first introduced in February 2019. At that time AB Electrolux announced its intention to spin off Electrolux Professional, which included the company’s lines of commercial foodservice equipment, into a separate company. Earlier this year, Electrolux Professional formed a partnership with Chef Andrea Zanin to provide education and support for the company’s products.
This is the latest foodservice equipment-related acquisition in recent weeks. Last month Middleby announced the purchase of Imperial Cooking Equipment, a California-based manufacturer of ranges, fryers, ovens, countertop equipment and other specialty cooking products for the commercial kitchen. Also in September, a transaction involving two foodservice equipment and supplies dealers saw Arizona Restaurant Supply acquire Colorado-based United Restaurant Supply. And earlier this summer Ali Group agreed to acquire Welbilt. For that deal to move forward, Welbilt may have to sell its Manitowoc Ice line of ice makers. The service agent community also got into the act when Tech 24 acquired Yukon Refrigeration, a company based in Southern, Ill.