The Legacy Companies Completes Acquisition of Avanti Products

The Legacy Companies has announced it has acquired Avanti® Products, a trusted brand and leader in the consumer appliance industry. Avanti develops, manufacturers and markets compact appliances including refrigerators, freezers, ranges, microwave ovens, wine refrigerators, ice makers, water dispensers, laundry appliances and other compact appliances.

The combination of these two great companies is expected to substantially scale presence in key retailers, channels and geographies. It will also create a new enterprise with power brands in large and growing markets. Speed, the impact of extended distribution, cross-sell and market deployment is expected to accelerate growth and cultivate value creation for The Legacy Companies.

The Legacy Companies is a global leader in e-commerce, innovation and brand building. These capabilities provide an advantage for Avanti. The Legacy Companies plans to produce some of Avanti’s product solutions in its wholly owned manufacturing plants, thereby securing a source of competitive advantage. It will also protect, develop and drive growth with Avanti’s current customers and distribution partners.

“Today marks the beginning of an exciting new era for The Legacy Companies, as we now move forward to realize the great potential of our combined businesses,” said Neal Asbury, Chief Executive Officer, The Legacy Companies. In bringing Avanti into The Legacy Companies, we create a new enterprise that is well positioned to uniquely serve customers who are looking for enjoyable and convenient solutions designed for small living spaces.

Avanti is the latest addition to The Legacy Companies’ aggressive acquisition strategy. With the current trend in mass urbanization driven by millennials, Avanti’s compact appliances are well positioned for strong growth. Sawaya Partners acted as exclusive financial advisors for The Legacy Companies.