Samsung Electronics America to Acquire Dacor

On Aug 11, 2016

Ridgefield Park-based Samsung Electronics America today announced it has entered into a definitive agreement to acquire Dacor^®, a leading American brand in the luxury home appliance category. The acquisition marks Samsung’s continued investment in the home appliance market and an expansion of its portfolio to include ultra-premium home appliances under the Dacor brand.

Founded by Stanley M. Joseph, the California-based company has been designing and manufacturing American-made luxury kitchen appliances since 1965 and has emerged as a trusted industry leader. Upon completion of the acquisition, Dacor will become a wholly owned subsidiary of Samsung Electronics America. Dacor will maintain its corporate identity and brand, with no changes to its operations and US-based manufacturing.

“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.”

“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 the Board, Dacor.

“The entire Dacor family is very excited to be joining Samsung,” said Dacor President and CEO, Chuck Huebner. “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.”

 

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