In the market for a five-figure kitchen appliance? Samsung has your back. On Thursday, the South Korean electronics company announced its acquisition of Dacor, an American maker of luxury appliances known for their Android connectivity and sky-high prices. Samsung’s purchase seems to signal the company’s continued interest in expanding its own smart home offerings.
“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.”
The high-end ranges, wall ovens, microwaves, and wine coolers that Dacor makes will likely complement Samsung’s current home offerings, which are mainly limited to refrigerators and dishwashers. And while Dacor’s popularity is currently most pronounced on its home turf of the U.S., its new alliance with Samsung could open up new markets overseas.
“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 Dacor’s Board. Chuck Huebner, the company’s president and CEO, added: “The entire Dacor family is very excited to be joining Samsung. 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.”
Both companies, however, are remaining tight-lipped on further details of the deal, including the price Dacor sold for and the date of finalization of the deal. We do know, however, that “Dacor will maintain its corporate identity and brand, with no changes to its operations and U.S.-based manufacturing.”