Youngs appliance parts company Queen Appliances will acquire Youngs appliances parts company to become the third company to buy the appliance company, the company said Monday.
Queen Appliances’ current owners, the J. Walter Thompson Company, also are seeking a buyer for their company.
The company’s parent company, General Electric, bought the JWT company in 2004.
The new acquisition will allow Queen Appliers to expand into new markets, including China, the acquisition said in a news release.
The company is a division of JWT Appliances Inc., the parent company of Queen Appliantys appliance parts and appliance accessories, a unit that includes the company’s products.
Queen Appliants’ appliance parts business, which includes parts for its line of KitchenAid products, includes parts and accessories for a broad array of brands, including KFC, Ikea, Nestle, and Trader Joe’s.
In January, the two companies announced a partnership to develop and launch new appliances for use in commercial kitchens.