The Manitowoc Company, Inc. (NYSE: MTW) reached an agreement to sell its Kysor/Warren and Kysor/Warren de Mexico businesses to Lennox International (NYSE: LII). The deal is valued at an estimated $138 million and is subject to a post-closing working capital adjustment.
Kysor/Warren produces refrigerated display merchandisers and systems primarily for retail applications such as grocery stores, supermarkets, and convenience stores.
Manitowoc does not anticipate this deal having an impact on its Kolpak, RDI, or other aspects of its walk-in business, according to a company release.
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