Ali Holding to Acquire Welbilt

Italian foodservice equipment provider Ali Holding has signed an agreement to acquire Welbilt Inc. (WBT) for $4.8 billion. Under the deal, Welbilt’s shareholders will receive $24 per share in cash.

Florida-based Welbilt offers foodservice equipment and solutions to chefs and restaurants via a global network of more than 5,000 manufacturers' representatives, buying groups, dealers and distributors in more than 100 nations.

The Chairman and CEO of Ali Group, Filippo Berti, said, “The transaction marks a significant milestone in Ali Group’s history and will position us to better serve our customers and capitalize on attractive growth opportunities.”

The President and CEO at Welbilt, Bill Johnson, said, “This transaction provides a compelling and certain cash value to Welbilt shareholders at an attractive premium and will create a global leader in the foodservice equipment and solutions industry with a full range of connectable foodservice solutions for our customers.”

The acquisition is expected to conclude in early 2022. (See Welbilt stock chart on TipRanks)

Seaport Global analyst Walter Liptak downgraded the rating on the stock from Buy to Hold after The Middleby Corp. (MIDD) announced not to raise its bid to acquire Welbilt.

Overall, the stock has a Hold consensus rating based on 6 Holds. The average Welbilt price target of $25.50 implies 9.1% upside potential. The company’s shares have gained 253% over the past year.

According to TipRanks’ Smart Score rating system, Welbilt scores a 7 out of 10, suggesting that the stock is likely to perform in line with market averages.

Related News:
Bank of America Reports Mixed Q2 Results, Shares Fall 3%
Lilly Acquires Protomer; Street Says Buy
Accenture to Acquire Wabion; Street Says Buy

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story


Latest Stocks Videos

    Weekly Performance in Stocks in a Volatile Week With Evergrande and Debt Ceiling Talk

    Sanctuary Wealth Chief Investment Officer Jeff Kilburg discusses weekly performance in stocks in what started out to be a volatile week with Evergrande and debt ceiling talk.

    3 hours ago


    TipRanks is the most comprehensive data set of sell side analysts and hedge fund managers. TipRanks' multi-award winning platform ranks financial experts based on measured performance and the accuracy of their predictions so investors know who to trust when making investment decisions.

    Learn More