Welbilt (WBT) Tops Q4 EPS by 2c, Miss on Revenues; FY18 EPS Outlook Below Estimates
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Welbilt (WBT) to Acquire Crem International for ~$224M
February 26, 2018 5:50 AM ESTWelbilt, Inc. (NYSE: WBT) announced that it has entered into a definitive agreement to acquire 100 percent of the shares of Avaj International Holding AB (Crem® International or Crem), which is majority owned by private equity firms Priveq Investment Fund IV L.P. and SEB Venture Capital, for total consideration of approximately SEK 1,800 million, or approximately $224 million USD equivalent. The acquisition will be funded through cash on hand and existing credit lines and is expected to close in the second quarter of 2018, subject to certain closing conditions.
Crem International is a global leading manufacturer of professional... More
