Samsung Electronics says to acquire US appliances maker Dacor

11 Aug, 2016 4:32 pm

SEOUL – South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire US-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.

Samsung said in a statement it will keep Dacor’s brand name and leave its operations unchanged following the acquisition. The company did not disclose financial terms. The Korea Economic Daily said Samsung paid $150 million to buy the California-based company.

Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7 percent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp. -Reuters

Must Watch