Milan, Chicago, Wilkes-Barre and St. Louis (September 17, 2015) – Ali Group, one of the largest and most diversified global leaders in the foodservice equipment industry, today announced that it has successfully closed on its agreement to acquire InterMetro Industries Corporation and its subsidiaries (Metro), the world’s leading manufacturer and supplier of storage and transport products in the Foodservice, Commercial Products and Healthcare Industries, from Emerson, a global engineering and technology leader based in St. Louis, Missouri. Terms of the transaction were not disclosed.
Luciano Berti, Ali Group’s Chairman and Chief Executive Officer, stated: “We are very pleased to welcome InterMetro into the Ali Group. The Metro acquisition is strategically important to our Group as it strengthens our position as leader in the global commercial foodservice equipment industry. InterMetro’s leadership in the storage solutions sector opens new opportunities for Ali Group and adds a new dimension to our ability to serve the foodservice equipment market. The addition of very strong and well recognized brands to those of the Group increases Ali’s global presence and visibility.”
“We are excited to have become part of the Ali Group and look forward to working closely with Luciano and Filippo Berti and the rest of the management team to expand their extensive offering to the markets we serve globally,” said John Nackley, President & CEO of InterMetro Industries Corporation. “We were fortunate to have been an integral part of Emerson and will move forward well prepared to continue our excellent record of profitable growth.”
Brookwood Associates and Deloitte & Touche LLP acted as financial advisors to the Ali Group. Alston & Bird LLP acted as legal advisors for the Ali Group. Davis Polk & Wardwell LLP acted as legal advisors to Emerson.
About Ali Group
Founded in 1963 by Luciano Berti, the Ali Group is an Italian corporation with headquarters located in Milan, Italy and North American operations based in Chicago, Illinois. The company, through its subsidiaries, designs, manufactures, markets and services a broad line of commercial and institutional foodservice equipment used by major restaurant and hotel chains, independent restaurants, hospitals, schools, airports, correctional institutions and canteens.
The Ali Group and its 76 global brands employs over 8,500 people in 26 countries and, in terms of sales, is one of the world’s two largest groups in this industry. It has 55 manufacturing facilities in 14 countries and sales and service subsidiaries throughout Europe, North America, South America, the Middle East and Asia Pacific.
For more than 86 years, InterMetro has been the world’s leading manufacturer storage, transport and technology solutions for the foodservice, healthcare and commercial products markets. Committed to understanding the needs of customers and channel partners, Metro provides innovative solutions that optimize space, improve workflow and user efficiency. InterMetro has been a business unit of Emerson since 1997. For more information, visit http://www.metro.com.
Emerson (NYSE: EMR), based in St. Louis, Missouri (USA), is a global leader in bringing technology and engineering together to provide innovative solutions for customers in industrial, commercial, and consumer markets around the world. The company is comprised of five business segments: Process Management, Industrial Automation, Network Power, Climate Technologies, and Commercial & Residential Solutions. Sales in fiscal 2014 were $24.5 billion. For more information, visit Emerson.com.