Samsung Acquires U.S. Premium Kitchen Appliance Maker | Be Korea-savvy

Samsung Acquires U.S. Premium Kitchen Appliance Maker

Samsung Family Hub Refrigerator. (image: Samsung)

Samsung Family Hub Refrigerator. (image: Samsung)

SEOUL, Aug. 11 (Korea Bizwire) – South Korea’s tech giant Samsung Electronics Co. on Thursday said it has signed a contract to acquire a U.S. premium kitchen appliance maker, Dacor, in a move to bolster Samsung’s presence in the American luxury home-appliance market. 

The financial terms of the contract were not revealed, but Yoon Boo-keun, head of Samsung’s consumer electronics business, said the deal allows Samsung to own a luxury brand that “gets recognition by the American people.” 

Samsung plans to make “steady investments to strengthen its business competitiveness” in the U.S. premium home-appliance market, Yoon said in a statement. 

It was the first time in seven years that Samsung acquired a foreign home-appliance maker. 

Based in Southern California, Dacor has produced professional-quality cooking ranges for homes and in-home ventilation hoods. 

Samsung raised its share in the U.S. home-appliance market for the second quarter of this year, widening its lead over competitors, according to a market estimate. 

Samsung accounted for 16.7 percent of the U.S. market for five major household appliances — refrigerators, washing machines, ovens, microwave ovens and dishwashers — for the April-June period, according to the estimate by market researcher TraQline.


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