Milwaukee-based water technology company
A.O. Smith has entered into an agreement to acquire New Delhi, India-based
Pureit from London-based
Unilever. The purchase price will be approximately $120 million, according to a Monday announcement.
"We believe the addition of Pureit will strengthen our leadership position as a global supplier of premium water treatment products and double our market penetration in South Asia," said
Kevin Wheeler, chairman and chief executive officer of A.O. Smith. "The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities. Pureit's culture of innovation, strong brand recognition and dedication to customer service will be an excellent addition to our premium brand positioning and broad product portfolio in the region."
Pureit offers a broad range of residential water purification solutions and has annual sales of approximately $60 million, primarily in India. The transaction is expected to close by the end of 2024.
"This sale of Pureit marks another milestone on our journey to evolve our portfolio towards higher-growth spaces, in line with our growth action plan," said
Eduardo Campanell, president of Unilever Home Care. "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."
