ITW Limited is an industrial equipment and components juggernaut that turned over some £740m in the UK during 2016.
Its revenues in the foodservice equipment sector, which are the only figure we’ve recorded here, contributed to almost a quarter of that total.
Hobart and Foster Refrigerator remain the most recognised and high-profile brands that belong to ITW’s food equipment business and together they helped that business achieve sales of £176.8m in 2016.
In its accounts, ITW states that its overall turnover jumped 42% last year due to it acquiring the right to exploit certain intangible assets from a related unnamed company in countries around the world other than the US.
ITW’s latest accounts do not break down UK operating profit beyond group level so it is not possible to analyse the profitability of the food equipment division.
As a company, though, it made an operating profit of £114m last year, up from a loss of £37.3m the year before.
Were individual accounts published for Hobart and Foster, they would undoubtedly make it into this list of their own accord.
Hobart continues to grow its portfolio with the launch of new energy efficient, user-friendly warewashing equipment, while the multi-million pound investment that Foster has made in its UK manufacturing facilities during recent years has reinforced its status as one of the market’s largest suppliers of commercial refrigeration.
2016 Vital Statistics
Turnover: £176.77m (+30%)
Operating profit: Not stated on a sector level
Employees: 2,373 (overall ITW Limited figure)
Ownership: The company’s immediate parent company is Berrington UK. The ultimate parent company and controlling party is Illinois Tool Works, incorporated in the US
Financial year end: 31 December