Illinois Tool Works Inc. (NYSE: ITW), Glenview, IL, has acquired Gold Pattern Holdings from private equity firm Actis. Gold Pattern Holdings owns Vesta Global Ltd., which owns Vesta Catering Co. Ltd, Guangzhou, China, a Western kitchen equipment manufacturer in China. Terms were not disclosed.
Vesta's product portfolio is composed of Western cooking/warming equipment including fryers, griddles, convection ovens, modular cooking equipment and ovens, sold under the brand name Justa. Key customers include four and five star hotels and chain restaurants. The company operates two manufacturing facilities in Guangzhou, employing 900 people.
