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Manitowoc Co. sells Jackson warewashing business

Updated: Monday, 28 Jan 2013, 2:57 PM CST
Published : Monday, 28 Jan 2013, 2:57 PM CST

MANITOWOC - The Manitowoc Company has sold its Jackson warewashing business.

The company announced the sale to Hoshizaki USA on Monday. Terms of the sale were not announced.

Jackson makes machines to wash dishes in commercial and institutional kitchens.

"The sale of the Jackson product line reinforces our commitment to our core commercial foodservice business, while enabling us to direct resources toward areas that further our strategic initiatives and drive profitable growth," Manitowoc chairman and CEO Glen E. Tellock said in a news release.

Manitowoc says it will use the net proceeds of the sale - about $26 million - to reduce its secured long-term debt.