In March 2016 Manitowoc Foodservice spun itself off from its original company, Wisconsin-based construction equipment giant Manitowoc. That created a $1.57 billion company with a new headquarters in Pasco County.
Now the company has a sequel to the split: a new name.
Manitowoc Foodservice is now Welbilt. The shift includes a new logo, brand identity and even stock ticker on the NYSE, to WBT. The Welbilt name has symbolic meaning to the company, and it also represents its location, on Welbilt Boulevard in New Port Richey. The company has been in that complex since 2008, when it acquired Enodis, a $1.6 billion global foodservice manufacturer that used the facility for a Southeast office.
The new ticker symbol is official as of March 6. “Welbilt reflects our promise and commitment to bringing innovation to the table,” President and CEO Hubertus Muehlhaeuser says in a statement. “Rooted in the Hirsch brothers' innovative stove in 1929, Welbilt developed to become the first company in the industry pursuing a complete systems approach. The name Welbilt uniquely connects our past with our vision of the future.”
Welbilt operates 18 manufacturing facilities throughout the Americas, Europe and Asia, and has about 5,500 employees. The company sells its hot and cold foodservice equipment and machines through a global network of more than 3,000 distributors and dealers in 100 countries. Customers include Chick-fil-A, Subway, Starbucks and Wawa.
A native of Germany, Muehlhaeuser was named president and CEO of the company in summer 2015. He previously ran the Europe, Africa and Middle East units of AGCO Corp., a farm equipment behemoth, where his division did more than $5 billion in revenues a year. Part of his mission at Welbilt is to streamline and simplify its products and services.