Following an intense battle with rival bidder ITW (Illinois Tool Works), Manitowoc has become the new owner of UK kitchen equipment manufacturer Enodis, at the cost of £1.4 billion.
The offer is, however, dependent upon approval from competition authorities in Europe and the US.
Manitowoc had been looking to make the purchase so that it could enter the food service and retail equipment markets. “We believe the strategic benefits of the combination are significant,” said chief executive Glen Tellock.
