Global water tech firm A. O. Smith Corp. announced it has acquired Giant Factories. Inc. The Canadian manufacturer of residential and commercial water heaters has trailed twelve-month sales of approximately US$105 million. The purchase price is approximately US$192 million in cash.
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.
