Pentair Acquiring Manitowoc Ice for $1.6B - Modern Distribution Management

Log In

Pentair Acquiring Manitowoc Ice for $1.6B

The London-based water treatment and sustainability provider says it reached a deal to acquire the provider of commercial icemakers.
Pentair plc, a London-based water treatment and sustainability provider, said it has completed a $1.6 billion deal to acquire commercial ice maker Manitowoc Ice from Welbilt, Inc.

Pentair plc (NYSE: PNR) has reached a definitive agreement to acquire Manitowoc Ice, a provider of commercial ice makers, for $1.6 billion, subject to “customary adjustments.”

When adjusted for approximately $220 million of expected tax benefits, the net transaction value is approximately $1.38 billion, Pentair said.

The company said it expects to fund the acquisition with “new debt that is anticipated to be investment grade.” Subject to closing conditions and regulatory approvals, the deal is expected to close in the second quarter of 2022.

“We expect this strategic acquisition to be a game changer for our commercial water solutions platform, establishing a differentiated, total water management offering and expanded network within the foodservice industry,” said John Stauch, Pentair president and CEO. “Manitowoc Ice’s industry-leading global positions in an incredibly attractive industry, coupled with its strong track record of profitable growth and culture of innovation and sustainability are expected to further establish Pentair as a leader in a vast and growing industry. At Pentair, we have remained steadfast in our commitment to developing tailored, sustainable solutions that bring water to life through effortless user experiences. We believe Manitowoc Ice’s culture and priorities are highly aligned with this mindset through value-added solutions that are centered on its customers’ needs.”

Manitowoc Ice, a portfolio brand of Welbilt, Inc. (NYSE: WBT), designs, manufactures and distributes commercial ice machines. The company has an installed base of approximately 1 million units and more than 200 models of commercial ice machines worldwide.

The company employs more than 800 team members and operates facilities in Manitowoc, Wisconsin, Monterrey, Mexico, and Hangzhou, China. Manitowoc Ice generated $308 million in revenue in 2021.

Related Posts

Share this article

About the Author
Recommended Reading
Leave a Reply

Leave a Comment

Sign Up for the MDM Update Newsletter

The MDM update newsletter is your best source for news and trends in the wholesale distribution industry.

Get the MDM Update Newsletter

Wholesale distribution news and trends delivered right to your inbox.

Sign-up for our free newsletter and get:

  • Up-to-date news in a quick-to-read format
  • Free access to webcasts, podcasts and live events
  • Exclusive whitepapers, research and reports
  • And more!


articles left

Want more Premium content from MDM?

Subscribe today and get:

  • New issues twice each month
  • Unlimited access to, including 10+ years of archived data
  • Current trends analysis, market data and economic updates
  • Discounts on select store products and events

Subscribe to continue reading

MDM Premium Subscribers get:

  • Unlimited access to
  • 1 year digital subscription, with new issues twice a month
  • Trends analysis, market data and quarterly economic updates
  • Deals on select store products and events



You have one free article remaining

Subscribe to MDM Premium to get unlimited access. Your subscription includes:

  • Two new issues a month
  • Access to 10+ years of archived data on
  • Quarterly economic updates, trends analysis and market data
  • Store and event discounts

To continue reading, you must be an MDM Premium subscriber.

Join other distribution executives who use MDM Premium to optimize their business. Our insights and analysis help you enter the right new markets, turbocharge your sales and marketing efforts, identify business partners that help you scale, and stay ahead of your competitors.

Register for full access

By providing your email, you agree to receive announcements from us and our partners for our newsletter, events, surveys, and partner resources per MDM Terms & Conditions. You can withdraw consent at any time.

Learn More about Custom Reports

Request a Market Prospector Demo

  • This field is for validation purposes and should be left unchanged.