Key Points
- A. O. Smith buys Pureit for ₹601 crore ($72 million).
- First-year earnings are not expected to change much.
- The acquisition adds to A. O. Smith’s premium product range.
- Pureit operates in several countries, including India and Bangladesh.
Looma News
A. O. Smith Corporation has finished its purchase of Pureit, a water purification brand that used to belong to Hindustan Unilever Limited (HUL). A. O. Smith’s Indian division bought Pureit for ₹601 crore ($72 million). The company says this acquisition won’t have a big impact on earnings during the first year.
Kevin J. Wheeler, Chairman and CEO of A. O. Smith, mentioned that Pureit fits well with their premium brands and will boost their online sales, helping them reach more customers. This move is part of A. O. Smith’s plan to grow and enhance its range of premium water treatment products.
Parag Kulkarni, President of A. O. Smith Indian Water Products Private Limited, expressed excitement about bringing Pureit into their company, noting how well their cultures align. He believes this partnership will help elevate the brand and expand its influence across South Asia.
Founded in 2004, Pureit operates in multiple markets, including India, Bangladesh, Sri Lanka, Vietnam, and Mexico, offering a variety of products like devices, filters, and spare parts.
