Benzinga | Nov 2, 2020 04:14PM EST

Franklin Electric Acquires Waterite; Terms Not Disclosed

FORT WAYNE, Ind., Nov. 02, 2020 (GLOBE NEWSWIRE) -- Franklin Electric Co., Inc. (NASDAQ:FELE) announced today that it has acquired Waterite Inc. and its affiliate Waterite America Inc., headquartered in Winnipeg, Manitoba, Canada, in an all cash transaction. Waterite is a residential and commercial water treatment products and services provider in Canada and the United States. Waterite's consolidated annual sales are approximately USD $22 million.