Illinois Tool Works Adds China-Based Kitchen Equipment Business to International Portfolio

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Illinois Tool Works announced today that it has added China-based food equipment manufacturer Vesta to its product portfolio via its purchase of Gold Pattern Holdings from private equity firm Actis.

Despite its location, Vesta focuses its manufacturing primarily on Western kitchen equipment, selling products such as fryers and convection ovens under the brand name Justa. Vesta's customers include chain restaurants as well as five-star hotels, and its two Guangzhou manufacturing plants employ around 900 workers. No financial details of the acquisition were disclosed in the press release.

"We are pleased to add Vesta to our global food equipment business," said Illinois Tool Works Executive Vice President Chris O'Herlihy in a statement. "This acquisition gives us entry to the fast-growing Chinese Western cooking industry with a differentiated product offering, attractive end market presence, and a well-established national distribution sales and service network."

In 2012, more than half of the company's $17 billion in sales came from outside the U.S., with a significant presence in emerging markets.

The article Illinois Tool Works Adds China-Based Kitchen Equipment Business to International Portfolio originally appeared on

Fool contributor Justin Loiseau has no position in any stocks mentioned. You can follow him on Twitter, @TMFJLo, and on Motley Fool CAPS, @TMFJLo.The Motley Fool recommends Illinois Tool Works. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.

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