Out of the Woods: Exclusive

Guelph, Canada based, and 77 year old, refrigeration manufacturer, WC Woods has been sold by the founding family to Red Diamond Capital, the private equity investment arm of Mitsubishi.  Woods' primary business is OEM supply of unexciting freezers to the largest North American appliance brands.  In November 2005, after a long history of supplying freezers to Whirlpool, Woods reached agreement to take over, under license, Whirlpool's branded freezer business.  
Why now after 77 years?  WC Woods claims the advantages of leveraging Mitsubishi's supply chain.....though to us this sounds like a bunch of sheep dip.  We guess that the Woods family wants to take its money off the table in the face of cheaper and more creative Chinese competition.....but what the hell do we know?  Press Release