Welbilt, Inc. (NYSE:WBT, Financial) today announced that it has entered into a definitive agreement to sell its Manitowoc® Ice business (“Manitowoc Ice”) to Pentair plc (NYSE:PNR) for approximately $1.6 billion in cash, on a cash free and debt free basis, subject to customary post-closing adjustments. Manitowoc Ice designs, manufactures and markets a full line of ice machines and related equipment and generated sales of approximately $308 million in 2021.
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