Samsung Electronics America to Acquire Dacor as Part of Home Appliance Portfolio Expansion into Luxury Market.
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.
About Dacor
Founded in 1965, Dacor is a leading
manufacturer of ultra-premium kitchen appliances. Designed and built in
Southern California, Dacor’s cooking appliances integrate function,
technology and design to create high-performing, intuitive products that
reflect the lifestyle and needs of the passionate cook. Dacor’s full
suite of award-winning appliances includes ranges, cooktops, wall ovens,
refrigeration, ventilation and wine preservation. Family-owned for
three generations, the company is responsible for many of the
innovations that have improved the way people cook in the modern
kitchen. www.dacor.com. For additional information, please visit LinkedIn, Facebook or Twitter @dacorkitchen.
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