Mo. company to be sold to Panasonic in $1.5B deal

Japanese electronics maker Panasonic Corp. announced Monday it would buy Hussmann Corp. for nearly $1.55 billion.

According to the St. Louis Business Journal, Panasonic is buying the Bridgeton-based refrigeration firm from stakeholders Clayton, Dubilier & Rice and Ingersoll Rand. The deal is expected to close in April.

Hussmann, which manufacturers refrigerator and freezer display cases, was originally founded in St. Louis in 1906 and currently employs 5,830 companywide.

Read more from the St. Louis Business Journal.