GLENVIEW, Ill. (AP) — Illinois Tool Works Inc. said it purchased baking equipment maker and supplier Peerless Machinery Corp. to enhance its food-equipment offerings.
Terms were not disclosed, Illinois Tool Works said late Monday.
Sidney, Ohio-based Peerless will become a division of Illinois Tool Works and operate under the heavy-equipment maker's existing food equipment group. It will continue to function as a separate company and will retain the Peerless name.
''The acquisition of Peerless will help support the continued growth of the food equipment group, specifically in the wholesale baking industry,'' Illinois Tool Works Group President Marc Fooksman said in a statement.
Illinois Tool Works has about 55,000 employees and 750 divisions in 49 countries.