fsXchange, the e-marketplace for the foodservice equipment and supply (FES) industry, today announced that Welbilt Corporation, the largest global food equipment manufacturer, has joined as an equity participant. Under the terms of the agreement, Welbilt has taken a 5% equity stake in fsXchange.
With the addition of Hobart (announced 8/14/00), Welbilt and Welbilt’s leading operating companies, including: Frymaster, Garland and Scotsman, fsXchange has emerged as the leading e-marketplace for the FES Industry. fsXchange has signed on 48 of the leading FES manufacturers and dealers, representing more than $5 billion (30%) of the industry’s total annual sales.
“fsXchange is such a comprehensive e-commerce solution for the industry because the online exchange addresses inefficiencies affecting the entire supply chain – from manufacturers to dealers to foodservice providers,” said Welbilt CEO Andy Roake. “This initiative fits well with Welbilt’s broad-based e-commerce strategy and Welbilt plans to actively participate in its success.”
In addition to taking an equity stake in fsXchange, Welbilt has also been allotted a seat on the fsXchange Board of Directors. Gordon Oates, Welbilt’s Vice President of Marketing has been selected to join the board, which is equally represented by the manufacturer and dealer communities. Mr. Oates and Welbilt will play an integral role in fsXchange’s adoption of industry standards designed to streamline the procurement of equipment and supplies through fsXchange.
“In the last two weeks fsXchange added the two largest manufactures in the FES industry delivering on its promise to provide real value to dealers and foodservice providers participating in the exchange,” said Eric Boelter, CEO of fsXchange. “Expect another flurry of announcements in the very near future as more and more companies embrace fsXchange’s e-commerce solution.”
Other equity participants in fsXchange include: Adams-Burch Inc., Atlanta Fixture, Beltram Foodservice Group, The Boelter Companies, Carlisle Foodservice, Foodservice Equipment & Supply Inc., Food Service Holdings, Franke Contract Group, Gill Group, Inc., Hobart Corporation, Intermetro, M. Tucker Co., R.W. Smith, S.S. Kemp & Co., Specialty Equipment Companies (NYSE: SEC), Strategic Equipment & Supply, Vollrath, and The Wasserstrom Company.
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fsXchange is the e-marketplace for the foodservice equipment and supply (FES) industry, enabling more efficient commerce for the entire foodservice industry — including manufacturers, dealer/distributors and foodservice providers. fsXchange was formed by a coalition of companies within the FES industry with long-standing relationships and shared business interests. The exchange is open and neutral, encouraging participation from the entire foodservice industry. With more than $5 billion in annual sales, fsXchange’s participating companies represent a significant share of the $18 billion FES market. Together, these companies make or market foodservice equipment and supply products representing 100% of all FES product categories. For more information, please visit www.fsxchange.com.
About Welbilt Corporation
Welbilt is the leading global manufacturer of equipment for the Food Service and Food Retail markets. It provides innovative and highly reliable commercial Food Equipment that meets the most challenging of customer requirements. Welbilt equipment is designed to operate around the clock and around the world. Welbilt provides service whenever and wherever customers need it. From a fine dining restaurant in Beverly Hills to a busy quick service or restaurant chain in Beijing, or to a supermarket in Miami, Welbilt is committed to keeping the kitchens and refrigerated displays working at peak efficiency. Each of the Welbilt companies has a powerful brand name in our industry, based on pioneering innovation and legendary service. Today there are over 7000 people in the Welbilt group. Welbilt is proud of its reputation for helping customers to succeed and are committed to their complete satisfaction on Welbilt products and service. For more information, please visit www.welbilt.com. Welbilt’s parent company has recently changed its name from Berisford to Enodis plc and is traded on the NYSE under the symbol (ENO).