Electrolux sells Kwikot water heater business in South Africa to Haier Smart Home for ZAR 2.4bn.
Electrolux Group sells its South African water heater business under the Kwikot brand to Haier Smart Home for ZAR 2.4bn (SEK 1.4bn). The deal includes the Kwikot brand and production facilities in Johannesburg. The divestment, part of Electrolux's strategy to focus on core assets, is expected to be completed in Q4 2024 and is profitable, with 2023 net sales of ZAR 1.9bn (SEK 1.1bn).
July 18, 2024
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