Weekly M&A Digest
A curated selection of transactions and deals from the past week.
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Deal Summary
Whirlpool Corporation to acquire InSinkErator from Emerson
Whirlpool Corporation (NYSE: WHR), a multinational manufacturer and marketer of home appliances, announced the acquisition of InSinkErator, the world’s largest manufacturer of food waste disposers and instant hot water dispensers for home and commercial use, from Emerson (NYSE: EMR), a global technology and software company, for $3 billion.
SEE to acquire Liquibox
Sealed Air (NYSE: SEE), a packaging company known for its brands: Cryovac food packaging and Bubble Wrap cushioning packaging, announced the acquisition of Liquibox, a pioneer, innovator, and manufacturer of Bag-in-Box sustainable Fluids & Liquids packaging and dispensing solutions for fresh food, beverage, consumer goods, and industrial end-markets.
“This is an exciting day for SEE. Liquibox is a highly strategic acquisition to fuel growth and earnings power in our SEE Operating Engine…We look forward to welcoming Liquibox’s talented team. Both of our cultures strive for world-class performance and place strong emphasis on talent, sustainability, innovation and operational excellence.” - Ted Doheny, SEE President and CEO.
Ametek to acquire Navitar and RTDS Technologies
AMETEK, Inc. (NYSE: AME), a global manufacturer of electronic instruments and electromechanical devices, announced the acquisition of Navitar, Inc. and RTDS Technologies Inc. Combined, for $430 million.
“We are excited to welcome the Navitar and RTDS teams to AMETEK…These businesses nicely complement our existing capabilities and strategically expand our presence in highly attractive secular growth areas. AMETEK continues to strengthen our portfolio through the acquisition of market-leading businesses with innovative, advanced technology solutions.” - David A. Zapico, Chairman, and CEO of AMETEK.
MTY Food Group to acquire Wetzel’s Pretzels
MTY Food Group Inc. franchises and operates quick-service and casual dining restaurants announced the acquisition of Wetzel’s Pretzels, a franchisor, and operator of quick-service restaurants operating in the snack category, for $207 million.
“This transaction represents another key acquisition for MTY as it adds another iconic brand to MTY’s U.S. portfolio. The transaction enhances MTY’s footprint in the snack category, with Wetzel’s Pretzels’ strong network of franchise partners, well-run corporate-owned locations, and a best-in-class management team. Its products are extremely craveable and are recognized everywhere in the U.S. by a broad range of
customers. We look forward to exploring all the opportunities this transaction brings to both companies” - Eric Lefebvre, CEO of MTY.
Masonite International Corporation to acquire Endura Products
Masonite International Corporation (NYSE: DOOR), a global designer, manufacturer, marketer, and distributor of interior and exterior doors and door systems, announced the acquisition of Endura Products, a manufacturer of high-performance door frames and door system components, for $375 million.
“We are thrilled to welcome the Endura team to the Masonite family…Endura shares our passion for creating solutions that address homeowner needs for comfort, security, style and convenience. In recent years, we have significantly increased our level of collaboration with Endura on new product offerings featuring integrated door systems that drive superior performance. The combination of our two companies is a natural fit that will allow us to accelerate our Doors That Do MoreTM strategy and maximize our growth potential.” - Howard Heckes, President and CEO of Masonite.
SOURCES
Emerson Press Release:
https://www.emerson.com/en-us/news/corporate/insinkerator-sale-complete
SEE Press Release:
https://ir.sealedair.com/news-releases/news-release-details/see-acquire-liquibox
AMETEK Press Release:
https://www.ametek.com/press-releases/corporate-financial/2022/november/ametek-announces-two-acquisitions
MTY Press Release:
https://mtygroup.com/wp-content/uploads/2022/11/2022-11-02-Project_Twisted-Press-Release-EN.pdf
Masonite Press Release:
https://investor.masonite.com/Investors/press-releases/press-release-details/2022/Masonite-International-Corporation-to-Acquire-Endura-Products-a-Leading-Innovator-of-High-Performance-Door-System-Components/default.aspx