Williams Refrigeration in £260m sale to Ali SpA
AGA has agreed to sell its Foodservice Equipment business, which includes Williams Refrigeration, to privately-owned Italian company Ali for £260m.
Aga Foodservice Equipment accounted for about half of Aga's revenues of £528.9m last year and contributed £21.2m to the group's £47.7m operating profits.
Ali SpA is headquartered in Cernusco, near Milan and designs, manufactures and services a large range of commercial foodservice equipment. Existing Ali refrigeration brands include Friginox, Friulinox, Hiber, KTM and Polaris.
The Ali Group claims to be the largest European group in this industry, employing more than 4,200 people in 22 countries.
It has manufacturing facilities in Australia, Belgium, Canada, Estonia, Finland, France, Italy, New Zealand, Spain, Sweden, the Netherlands and the US. It has sales and service subsidiaries in Europe, North America, Russia, Japan, China, the Middle East, Australia and New Zealand.
The sale follows the collapse of Aga's proposed merger with fellow kitchen equipment group Enodis at the end of last year.