Ali Group, a provider of food service equipment, has acquired Welbilt.
With the completion of the transaction, Welbilt’s common stock has ceased trading.
“The completion of this transaction is an important milestone in Ali Group’s history and marks the beginning of our next chapter of growth,” said Filippo Berti, CEO of Ali Group. “Welbilt brings a rich heritage, talented team and a portfolio of foodservice solutions to Ali Group. We are excited to welcome the talented Welbilt team to the Ali Group family and look forward to leveraging our strong global presence as we build on our culture of quality and innovation.”
Goldman Sachs served as financial advisor, with financing provided by Goldman Sachs and Mediobanca. Alston & Bird served as legal and regulatory advisor. White & Case provided legal assistance on banking matters.