Pentair, a provider of water treatment solutions for a variety of market segments including foodservice, will acquire Manitowoc Ice, a commercial ice maker manufacturer, for $1.6 billion. The deal likely allows Ali Group to take a significant step forward in completing its previously announced acquisition of Welbilt, which owns Manitowoc Ice.
Ali Group reached a deal to acquire Welbilt in July of 2021. Then in the fall of 2021, as part of the U.S. Department of Justice’s review of the deal, Ali Group and Welbilt received a request for information from the U.S. Department of Justice that focused on the manufacturers’ ice brands. (Ali Group already owns ice machine manufacturers Ice-O-Matic and Scotsman). As a result of the DOJ’s inquiry, Ali Group and Welbilt agreed to divest Manitowoc Ice and expressed confidence this step will ensure regulatory approval of the deal.
In announcing the sale of Manitowoc Ice to Pentair, Welbilt said the company “expects to receive regulatory approval for the sale of Welbilt to Ali Group from the U.S., United Kingdom, and European Union prior to closing the sale of Manitowoc Ice to Pentair.”
Adding Manitowoc Ice will allow Pentair to establish a “differentiated, total water management offering and expanded network within the foodservice industry,” said John Stauch, Pentair president and CEO, in a press release announcing the deal.