ITW Food Equipment Group acquires Peerless
January 07, 2008
by FoodBusinessNews.net Staff
SIDNEY, OHIO — The Food Equipment Group of Illinois Tool Works, Inc. has acquired The Peerless Group. The acquisition includes the Sidney manufacturing facility.
"We are very interested in the wholesale baking industry as an extension of our Food Equipment Group," said Marc Fooksman, a group president with ITW. "Within ITW we have a strong culture of growth, and we see this as a new platform to support the continued growth of the Food Equipment Group."
ITW is a $14.1 billion diversified manufacturer of highly engineered components, industrial systems and consumables. It has 750 business units in 49 countries.
"Peerless is a good fit with ITW due to its excellent reputation in the industry, strong brand names, committed workforce and successful management team," Mr. Fooksman said. "As part of the Food Equipment Group, Peerless will operate as an autonomous business unit, which is consistent with ITW’s decentralized organizational structure."
Based in Sidney, The Peerless Group is a global supplier of capital equipment to the wholesale baking industry. Formed in 1913, the company has grown into one of the most diverse suppliers serving the bread and roll, cake and snack and cookie and cracker markets.