Whirlpool Corporation announced that it has entered into a definitive agreement with Emerson Electric Co. to acquire InSinkErator, manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, in an all-cash transaction for $3 billion. “We are excited for the unique opportunity to add InSinkErator to our portfolio of leading brands. The acquisition is a clear accelerator of our ongoing portfolio transformation and aligned with our stated goals of investing in high-growth and high-margin businesses and Win Americas – said Marc Bitzer, Chairman and CEO of Whirlpool Corporation –. InSinkErator is not only an iconic brand with a reputation for the highest quality and performance, but also a business that is purpose-driven and shares our vision of improving life at home. We look forward to capitalizing on the significant growth opportunities we see for this business”.
