Welbilt Board Determines That Revised Proposal From Ali Group is a “Company Superior Proposal”

July 7, 2021 Welbilt

Under the terms of the Revised Unsolicited Proposal, Ali Group would acquire all of the outstanding shares of Welbilt common stock for $24 per share in cash, an increase from the previously disclosed $23 per share cash proposal made by Ali Group on May 25, 2021, which implies an enterprise value of approximately $4.8 billion.

Ali Group Confirms Proposal to Acquire Welbilt

June 2, 2021 Ali Group

In response to media reports, Ali Holding S.r.l., one of the largest and most diversified global leaders in the foodservice equipment industry, today confirmed that on May 25, 2021, it submitted to the Board of Directors of Welbilt, Inc. a proposal under which Ali Group would acquire all of the outstanding shares of Welbilt common stock for $23.00 per share in cash.

The Middleby Corporation to Acquire Welbilt, Inc.

April 23, 2021 The Middleby Corporation

This transaction will bring together two complementary businesses, accelerate the Middleby growth strategy into key markets globally and increase core capabilities in highly attractive segments.

Welbilt Promotes Leonard Lam to Senior Vice President and Managing Director, Asia Pacific

March 8, 2021 Welbilt

Lam joined Welbilt in 2007 with the acquisition of Fabristeel and was named Vice President of Finance, APAC in 2009. Subsequently, he was named Vice President of Marketing, APAC in 2017, where he revamped our marketing strategy and introduced new customer-focused events like the ‘Season’ conferences, Welbilt TV and the promotion of our solutions-based ‘Complete, FIT, Connected’ strategy that differentiates Welbilt from its competitors.

Welbilt and HCL Enter Into a Strategic Partnership to Accelerate Development and Roll-Out of KitchenConnect Digital Platform Solution in Global Commercial Foodservice Industry

December 17, 2020 Welbilt

Welbilt, Inc. (NYSE:WBT), a leading global provider of commercial foodservice equipment, today announced that it has entered into a strategic partnership with HCL Technologies Ltd (HCL), a leading global technology company, to accelerate the development of Welbilt’s KitchenConnect® digital platform and its roll-out to Welbilt’s customers.