The Walt Disney Company has announced that it will sell $1 million worth of commercial kitchen equipment to a Chinese company.
The purchase of commercial kitchens is the latest in a series of acquisitions that Disney has made to support its core business, which includes its Hollywood Studios and Disney Theme Parks.
Disney purchased commercial kitchen technology from the Beijing-based company, Shanghai-based Zongmei, in 2016.
Disney is also acquiring commercial kitchen appliance maker, Lutron, for $7 million in 2018.
Disney has said that the deal with ZongMEI will bring the company’s commercial kitchen division closer to its “core business” than it has been since the early 1990s, when it began building commercial kitchens.
The deal is expected to close by the end of the year.
The sale of commercial equipment to Chinese buyers will be done through the Walt Disney Parks and Resorts brand, which is the same name as Disney theme parks.
“This is the largest single investment in commercial kitchen and food-service technology in the world,” said Disney CEO Bob Iger.
Walt Disney’s commercial kitchens are already used by restaurants around the world.
At Disney’s theme parks, commercial kitchen staff are responsible for preparing food for guests, and have also been instrumental in the food preparation and serving process for guests.
In 2017, Disney opened a restaurant called the WaltDisney Hotel, located in Downtown Disney.
Over the last five years, the company has invested heavily in its commercial kitchen infrastructure, including a new kitchen, food preparation kitchen and a restaurant kitchen.
On a conference call last week, Iger outlined the investment in the commercial kitchen segment, which will be the focus of the company during the holiday season.
According to Iger, the commercial kitchens in Disney Parks will include a full-service kitchen, a full kitchen, and a part kitchen.
The WaltDisney Commercial Kitchen division has more than 700 commercial kitchen employees working at Disney parks across the U.S. and Canada.
This deal will add additional capacity to our commercial kitchen facilities, and will help drive our restaurants to more guests.
The sale of this equipment will also support the development of our restaurants’ own commercial kitchen capabilities, and help drive the growth of our existing commercial kitchen systems, Igers said.
Earlier this year, Disney acquired an additional $2 million worth for commercial kitchen automation technology, as part of a $1.2 billion deal.
Iger said that while the commercial cooks have always been at the forefront of commercial cooking, the acquisition of commercial technology will help accelerate their development.
With this acquisition, we’re adding a second layer to our kitchens that allows us to bring commercial kitchens to new heights.
Disney will also be able to leverage the technology in restaurants’ kitchens to improve their efficiency and serve guests better.