Benton-Harbor based Whirlpool has announced that it has entered into a definitive agreement with Emerson Electric to acquire “InSinkErator.”

It’s the world’s largest manufacturer of food waste disposers and instant hot water dispensers.

Whirlpool is paying $3 billion dollars in an all-cash transaction.

They say InSinkErator is an iconic brand with a reputation for the highest quality and shares its vision of improving life at home.

InSinkErator has more than 70 percent of the market share of food disposal systems.

On a full-year basis, ending in September, InSinkErator is expected to generate sales of $650 million dollars.