Maytag Will Buy Amana Appliances
By Tatyana Sinioukov
Maytag announced on Tuesday it will buy Amana Appliances from Goodman Global Holding Company, Inc. Goodman Global Holding company is a privately held company that bought Amana in 1997.
According to Maytag, it will pay $325 million, in 5 percent Maytag stock and the rest in cash. The acquisition is subject to regulatory approval and is expected to close in third quarter. Maytag will buy Amana's major appliance and microwave oven businesses, and Goodman will retain Amana's home and commercial heating and air conditioning division that produces Amana-branded HVAC products.