Ultra-premium
appliance business expected to experience double-digit growth over next three
years
Samsung Electronics America today announced it has entered into a definitive agreement
to acquire Dacor®, a leading American brand in the luxury home appliance
category. The acquisition marks
Samsung’s continued investment in the home appliance market and an expansion of
its portfolio to include ultra-premium home appliances under the Dacor brand.
Founded by Stanley M. Joseph, the California-based company has been
designing and manufacturing American-made luxury kitchen appliances since 1965
and has emerged as a trusted industry leader. Upon completion of the
acquisition, Dacor will become a wholly owned subsidiary of Samsung Electronics
America. Dacor will maintain its corporate identity and brand, with no changes
to its operations and US-based manufacturing.
“Dacor has been delivering innovative products to the luxury
home appliance market for more than 50 years,” said Boo-Keun Yoon, CEO of
Consumer Electronics at Samsung Electronics. “We welcome the Dacor team to the
Samsung family and look forward to leveraging their expertise in the luxury
home appliance market while scaling their continued success in North America .”
“Samsung is a
world-renowned organization and we could not be more delighted
to share our family company with them. We are thrilled to be a part of a truly
great global company,” said Michael Joseph, Chairman of the Board.
“The entire Dacor family is very excited to be joining
Samsung,” said Dacor President and CEO, Chuck Huebner. “We expect that, with
Samsung’s global scale, financial strength and market leadership, we will be
able to accelerate our growth as we better meet the needs of both our high-end
consumers and our retail partners.”
As a leader in the ultra-premium kitchen appliance market,
Dacor’s innovative, high-quality products have been recognized with numerous
prestigious awards including GOOD DESIGN™, Kitchen & Bath Industry Show
(KBIS) Best in Show, Digital Trends Best of Consumer Electronics Show (CES)
Home Award, and many more. Dacor is
also the first and only major appliance brand to be recommended by the Master
Chefs of Le Cordon Bleu, the premier
culinary institute headquartered in Paris .
Dacor products include ranges, cooktops, wall ovens, refrigeration, ventilation
and wine preservation. To learn more about Dacor and its selection of
ultra-premium kitchen appliances, visit www.dacor.com.
Samsung is America ’s
fastest growing home appliance brand and continues to deliver products with
premium design and exemplary performance. With a deep understanding of the
consumer marketplace, Samsung is redefining the appliance category with
innovations that bring convenience into the modern lifestyle of consumers for a
truly connected experience in the home.
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