South Korean tech giant Samsung Electronics Co Ltd said on Thursday it will acquire US-based luxury appliances maker Dacor Inc, seeking to boost high-end product sales.
Samsung said in a statement it would keep Dacor’s brand name and leave its operations unchanged following the acquisition.
The company did not disclose financial terms.
The Korea Economic Daily said Samsung paid $150 million to buy the California-based company.
Researcher Traqline says Samsung was the top home appliances maker in the United States during the second quarter with a 16.7 per cent market share, beating out rivals such as LG Electronics Inc and Whirlpool Corp.
