Samsung Electronics Buys Dacor

Samsung Electronics America, the U.S.-based arm of Samsung Electronics, said late Wednesday that it is acquiring luxury home appliance maker Dacor, which is based in Southern California. Financial terms of the acquisition were not announced. Dacor is based in Industry, California, which encompasses parts of Los Angeles, Orange County, and the Inland Empire. Dacor is a family owned company which was founded in 1965 by Stanley M. Joseph. Samsung Electronics--known in the technology industry for its smartphones and tablets--also is a big player in the home appliance market.