Whirlpool Corporation announced the completion of its 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).
“I am excited to welcome the InSinkErator team, as we continue to execute on our vision of improving life at home.”
“On behalf of everyone at Whirlpool, I am excited to welcome the InSinkErator team, as we continue to execute on our vision of improving life at home,” said Marc Bitzer, chairman and CEO of Whirlpool Corporation. “This acquisition advances the company’s ongoing portfolio transformation and aligns with our long-term value creation goals.”
“We look forward to working hand in hand to bring consumers the best kitchen experience in the world.”
Whirlpool Corporation expects to generate revenue upside by capitalizing on InSinkErator’s leading consumer brand preference, an installed base that is five times larger than the rest of the industry driving a recurring sales profile, and the expansion of the InSinkErator brand into new markets and product offerings. As previously stated, the acquisition is expected to be immediately accretive to Whirlpool Corp.’s margins, adding approximately $1.25 EPS accretion in fiscal 2023. Whirlpool Corp.’s 2022 guidance is unchanged. InSinkErator will operate as a separate business as part of the company’s North America Region and maintain its headquarters in Mount Pleasant, Wisconsin, and its manufacturing operations in Racine, Wisconsin.
“Our team is excited about the future ahead with Whirlpool Corporation, and we see how perfectly InSinkErator fits within the company’s portfolio of brands,” said Joe Dillon, President of InSinkErator. “We look forward to working hand in hand to bring consumers the best kitchen experience in the world.”