“When we began talking with ITW, it was very clear that its business focus was consistent with ours,” says Dane Belden, president, Peerless. “As an acquirer, ITW has a strong track record of driving best practices and establishing market-leading positions within industries, and Peerless is at an ideal starting point for that.”

“Peerless is a good fit with ITW due to its excellent reputation in the industry, strong brand names, committed workforce and successful management team,” says Marc Fooksman, group president, ITW. “As part of the food equipment group, Peerless will operate as an autonomous business unit, which is consistent with ITW’s decentralized organizational structure.”