Unilever has sold its water purification business, ‘Pureit’ to A.O. Smith. The A.O. Smith Corporation is a global leader in the water technology industry.
Pureit is Being Sold to A.O. Smith
Unilever has sold ‘Pureit’ to A. O. Smith, as the company stated on Tuesday. Unilever’s General Manager of Home Care in South Asia, Eduardo Campanella said, “The sale of Pureit marks another milestone on our journey to evolve our portfolio towards higher-growth spaces, in line with our Growth Action Plan. Pureit provides essential water purification solutions to millions of loyal consumers, and I am confident the brand will thrive further under the ownership of A. O. Smith”
A Strategic Acquisition for A.O. Smith Corporation
Kevin J Wheeler, Chairman and CEO of AO Smith was thrilled with what this acquisition meant for them when he said, “We are excited about these moves since they will help us strengthen our position as a premier provider worldwide while doubling penetration into south Asia alone”. Mr Wheeler added with this, “Premium Products Portfolio Strategy Enhancement through Acquiring Purity Innovation Recognition Service Dedication Positioning.”
Details of the Transaction
Unilever announced to sold Water Purification Business – Pureit. Now transaction is only subject to completion and other customary closing conditions. Until the completion of the transaction, Unilever will continue to manage Pureit.
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