ACHRNEWS

Feb. 4, 2013: Manitowoc Announces Divestiture of Its Jackson Business to Hoshizaki USA Holdings

February 4, 2013
MANITOWOC, Wis. — The Manitowoc Co. Inc. announced that it has sold its Jackson warewashing business to Hoshizaki USA Holdings Inc. Specific terms of the asset sale were not disclosed. Jackson is a leading producer of warewashing equipment systems primarily for institutions and commercial kitchen applications.

“The sale of the Jackson product line reinforces our commitment to our core commercial foodservice business, while enabling us to direct resources toward areas that further our strategic initiatives and drive profitable growth,” said Glen E. Tellock, Manitowoc’s chairman and chief executive officer.

Manitowoc said it will use the net proceeds of the transaction of approximately $26 million to further reduce its secured long-term debt.

Manitowoc is a leading manufacturer of commercial foodservice equipment, including refrigeration equipment that encompasses ice machines, beverage dispensers, refrigerators, freezers, blast chillers, walk-ins, and more. For more information, visit www.manitowoc.com.

Publication date: 2/4/2013