Whirlpool Corporation will acquire InSinkErator, the manufacturer of food waste disposers and instant hot water dispensers for home and commercial use. Whirlpool announced that it has entered into a definitive agreement with Emerson Electric Co.
«We are excited for the unique opportunity to add InSinkErator to our portfolio of leading brands – commented Marc Bitzer, Chairman and CEO of Whirlpool Corporation -. 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. 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.»
Whirlpool expects to generate revenue upside by capitalizing on InSinkErator’s leading consumer brand preference, an installed base that is fives times larger than the rest of the industry driving a recurring sales profile, the strong underlying secular tailwinds of the U.S. housing market, and the expansion of the InSinkErator brand into new markets and product offerings.