Whirlpool Corp. the Benton Harbor, MI-based home appliance giant, has entered into a definitive agreement with Emerson Electric Co. to acquire InSinkErator, the world’s largest manufacturer of food waste disposers and instant hot water dispensers for residential and commercial use, the companies announced.
The acquisition involved an all-cash transaction for $3 billion, according to the companies.
“We are excited for the unique opportunity to add InSinkErator to our portfolio of leading brands,” said Marc Bitzer, chairman and CEO of Whirlpool Corp. “The acquisition is a clear accelerator of our ongoing portfolio transformation and (is) aligned with our stated goals of investing in high-growth and high-margin businesses.”
Established in 1938, InSinkErator is expected to operate as a separate business as part of Whirlpool’s North America Region, and will maintain its current headquarters in Mount Pleasant, WI. InSinkErator has established an international presence that reaches nearly 80 countries, with subsidiaries in Australia, Brazil, Canada, China, Mexico, New Zealand and the United Kingdom, according to corporate officials.
Whirlpool Corp.’s brand portfolio, includes Whirlpool, KitchenAid, Maytag, JennAir, Consul, Brastemp and Amana, among other business units. The publicly traded company reported roughly $22 billion in 2021 annual sales.