AO Smith completes acquisition of Pureit Business from HUL

New Delhi: International water know-how firm A.O. Smith Corporation on Friday introduced the completion of the acquisition of FMCG main HUL‘s water purification enterprise Pureit. HUL, in a regulatory submitting, mentioned it has “accomplished the sale and divestment of its water purification business carried underneath the model ‘Pureit’.” Pureit provides a broad vary of residential water purification options throughout India, Bangladesh, Sri Lanka, Vietnam and Mexico, amongst others.

HUL in July this yr introduced the sale of its water purification enterprise to AO Smith India Water Merchandise for USD 72 million (about Rs 600 crore), as a part of a world transaction by its mum or dad Unilever.

Whereas AO Smith Company, in an announcement had mentioned the acquisition value can be roughly USD 120 million in money, topic to customary changes.

Commenting on the completion of the acquisition, A. O. Smith Chairman and CEO Ok J Wheeler mentioned, “This acquisition aligns with our technique of including scale and enhances our premium water therapy product portfolio and distribution footprint.

In 2023-24, the water purification enterprise turnover was estimated at Rs 293 crore, lower than 1 per cent of HUL‘s turnover.

AO Smith India Water Merchandise President Parag Kulkarni mentioned: “We’re excited to welcome Pureit to the A. O. Smith household. Pureit’s historical past of offering efficient water purification options has made it a pacesetter within the water business. “Collectively, we are going to elevate our model and increase our attain and affect throughout South Asia.”