Pentair Completes Transaction to Acquire Assets of Ken’s Beverage, Inc.
05/19/2021 - 04:15 PM
Pentair plc (NYSE:PNR), a leading provider of water treatment and sustainable solutions, today announced that it completed the previously announced transaction to acquire the assets of Ken’s Beverage, Inc. (KBI), for approximately $80 million in cash, subject to customary adjustments. For over 35 years, and operating with 30 branches and over 300 trained technicians, KBI has provided beverage equipment and services to commercial customers.
“We are excited about the addition of KBI and the new growth opportunities it brings as we advance our strategy to provide a full suite of products and services for commercial customers,” said Mario D’Ovidio, Executive Vice President and President, Pentair Consumer Solutions. “This acquisition further realizes our vision to be the leading provider of residential and commercial water treatment solutions, delivering smart, sustainable solutions that empower customers to make the most of life’s essential resources.”
“We are pleased to become a part of Pentair,” said Ken Reimer, founder of KBI and Commercial Services Business Development Leader for Pentair Water Treatment Services. “With our shared commitment to delivering exceptional beverage services and solutions to our customers, I am personally looking forward to continuing to grow the service capability as part of the Pentair team.”
ABOUT PENTAIR PLC
Pentair makes the most of life’s essential resources. From our residential and business solutions that help people move, improve and enjoy their water, to our sustainable innovations and applications, we deliver smart, sustainable solutions for life.
Pentair had revenue in 2020 of $3 billion , and trades under the ticker symbol PNR. With approximately 9,750 global employees serving customers in more than 150 countries, we work to help improve lives and the environment around the world. To learn more, visit pentair.com .
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PNR Rankings
#591 Ranked by Stock Gains
PNR Stock Data
Industry
Fluid Power Valve and Hose Fitting Manufacturing
Sector
Manufacturing
Tags
Producer Manufacturing, Miscellaneous Manufacturing, Manufacturing, Fluid Power Valve and Hose Fitting Manufacturing
Country
United Kingdom
City
Twickenham
About PNR
pentair plc (nyse: pnr) is a global water, fluid, thermal management and equipment protection partner with industry leading products, services, and solutions. with 2014 revenues of $7.0 billion, pentair employs approximately 30,000 people worldwide. we report the performance of our business within four global operating segments: valves & controls, flow & filtration solutions, water quality systems, and technical solutions. valves & controls designs, manufactures, markets, and services valves, fittings, automation and controls, and actuators for the energy and industrial verticals. process technologies designs, manufactures, markets, and services innovative water system products and solutions to meet filtration, separation, and fluid process management challenges in food and beverage, water, wastewater, swimming pools, and aquaculture applications. flow technologies designs, manufactures, and markets products and services designed for the transfer and flow of clean water, wa
