Commercial foodservice equipment supplier Manitowoc Foodservice will rebrand the company, its logo and its brand identity to Welbilt, Inc., with the ticker symbol changed to “NYSE:WBT” on March 6, 2017.
The change is part of the company’s strategic repositioning after it spun off from its former parent company, The Manitowoc Company, in March 2016.
Manitowoc Foodservice president and CEO Hubertus M. Muehlhaeuser said: “We are excited to announce the changing of our name to Welbilt, Inc., which further strengthens our corporate identity as a stand-alone company.
“Welbilt reflects our promise and commitment to bringing innovation to the table. Rooted in the Hirsch brothers’ innovative stove in 1929, Welbilt developed to become the first company in the industry pursuing a complete systems approach.
“The name Welbilt uniquely connects our past with our vision of the future. Our primary objective is to continue offering a complete solution for the entire kitchen with high-quality products supported by excellent service that help our customers’ kitchens reach their full potential. As we continue to innovate and grow, we will always remain grounded in our long history.”
Josef Matosevic, chief operating officer commented: “Welbilt is synonymous with great quality and reliability in everything we do. We have significantly improved our operations to live up to that promise. Welbilt is also pragmatically innovative and all our products and solutions are designed with the entire kitchen in mind.
“Finally, we are intelligently connected and create seamless solutions in the kitchen to get the highest operator benefits and help our customers achieve the return on their investment faster.”
When the name-change comes into effect on March 6, 2017, Welbilt, Inc. (NYSE:WBT) shares will trade using the CUSIP number 949090 10 4.
