Global water technology company A. O. Smith Corp. announced on October 20 that it has acquired Giant Factories Inc., a Canada-based manufacturer of residential and commercial water heaters, with trailing 12-month sales of approximately $105 million.
“The addition of Giant strengthens our leadership position as a global supplier of residential and commercial water heaters. The acquisition also supports our corporate strategy by increasing our North America market penetration, creating additional capacity and enhancing our distribution capabilities,” said Kevin J. Wheeler, chairman and chief executive officer. “Along with its rich history, established relationships and talented team, Giant’s values and business approach align with ours, and we look forward to welcoming Giant’s employees to the A. O. Smith family.”
Claude Lesage, Giant Factories president, commented, “We are extremely excited about the benefits of a powerful combination with a world leader in global water technology. This natural and logical partnership with A. O. Smith will enhance prospects for our customers, employees, and suppliers.”
A family-owned business founded in 1945, Giant markets its water heaters under the Giant brand and employs more than 300 people, primarily in Canada. Giant manufactures water heaters at two facilities in Montreal and sells water heating products across Canada.