Pentair Plc To Acquire Ken's Beverage - Quick Facts

(RTTNews) - Pentair plc (PNR) has agreed to acquire the assets of Ken's Beverage, Inc., a provider of beverage equipment and service to commercial customers. Total consideration for the transaction is approximately $80 million in cash.

Ken's Beverage provides beverage equipment, installation, service, preventive maintenance, project deployment and water filtration systems for restaurants, convenience stores and foodservice companies.

"The planned addition of KBI advances our strategy to provide a full suite of services for commercial customers, and supports Pentair's vision to be a leading residential and commercial water treatment company," said Mario D'Ovidio, Executive Vice President and President, Pentair Consumer Solutions.