On July 14, 2021, Ali Holding S.r.l. and Welbilt, Inc. announced that they have entered into a definitive merger agreement under which Ali Group would acquire Welbilt in an all-cash transaction for $24.00 per share, or approximately $3.5 billion in aggregate equity value and $4.8 billion in enterprise value. The merger agreement had been unanimously approved by the boards of directors of both companies.