Ali Group Acquires Welbilt
July 14, 2021
Ali Holding S.r.l. (Ali Group) agreed to acquire Welbilt, Inc. in an all-cash deal valued at $24.00 per share (approximately $3.5 billion equity value and $4.8 billion enterprise value). After regulatory steps including divesting the Manitowoc Ice brand, Ali Group completed the acquisition in July 2022, and Welbilt’s shares ceased trading on the NYSE.
- Buyers
- Ali Holding S.r.l., Ali Group North America Corporation, Ascend Merger Corp.
- Targets
- Welbilt, Inc.
- Industry
- Industrial Services
- Location
- Florida, United States
- Transaction Type
- Buyout
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The Middleby Corporation (Middleby) reiterated its conviction behind its signed, definitive transaction to acquire Welbilt via a tax-free merger for Welbilt shareholders. Middleby highlighted expected run-rate cost synergies and said the definitive proxy statement was declared effective June 11, 2021, with shareholder votes scheduled for July 21, 2021.
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