MUELLER INDUSTRIES INC acquired Kessler Sales and Distribution (Wieland-Kessler LLC distribution business) for $57.2 million in cash at closing, a transaction completed in August 2020, structured as all cash. The deal was a Asset purchase.
Kessler Sales and Distribution (Wieland-Kessler LLC distribution business) operates in Piping Systems, is based in United States. Under an asset purchase agreement with Wieland-Kessler LLC, Mueller purchased the Kessler distribution business, including inventory, manufacturing equipment, and related assets. Kessler Sales and Distribution, LLC is a distributor of residential and commercial plumbing products. Treated as a business combination.
It is reported within and complements the Company's existing businesses in the Piping Systems segment.
Established distributor of residential and commercial plumbing products complementing Piping Systems. Piping Systems segment (Kessler)
On August 3, 2020, the Company entered into an asset purchase agreement with Wieland-Kessler LLC, whereby the Company purchased the Kessler distribution business, which included inventory, manufacturing equipment, and related assets. The total purchase price was $57.2 million in cash paid at closing.Mueller Industries FY2020 10-K, Acquisitions note
Advisory firms were not disclosed for this transaction.