A.O. Smith Corporation, a multinational leader in water technology, announced on Monday that it will purchase Pureit from Hindustan Unilever for an unknown amount.
According to a statement from the company, the acquisition is anticipated to occur by the end of this year and is not anticipated to materially affect earnings in the first year.
Mostly in India, Pureit provides a wide range of household water filtration options.
Kevin J. Wheeler, Chairman and CEO of A.O. Smith, stated, “The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities.”
On July 23, A.O. Smith will release its financial results for the second quarter, along with more information on the acquisition.
“This action aligns with our strategic goal of aggressively concentrating on our key areas. Millions of devoted customers depend on Pureit for vital water purifying solutions, and I’m sure A.O. Smith’s ownership will help the brand grow even more,” stated Hindustan Unilever CEO and managing director Rohit Jawa.
A.O. Smith, with its headquarters in Milwaukee, Wisconsin (US), is a pioneer in the application of cutting-edge technology and energy-saving solutions to goods produced and sold globally. Prior to now, Hindustan Unilever was considering selling its Pureit water purifier division.
According to Parag Kulkarni, President of A.O. Smith India Water Products, “the Pureit team’s deep understanding of consumer needs and water treatment expertise adds tremendous strength to A.O. Smith in India.”
