M&A Deal Summary

Haier Acquires Kwikot

On July 18, 2024, Haier acquired consumer products company Kwikot from Electrolux Group for 2.5B ZAR

Acquisition Highlights
  • This is Haier’s 2nd transaction in the Consumer Products sector.
  • This is Haier’s 2nd largest (disclosed) transaction.
  • This is Haier’s 1st transaction in South Africa.

M&A Deal Summary
Date 2024-07-18
Target Kwikot
Sector Consumer Products
Buyer(s) Haier
Sellers(s) Electrolux Group
Deal Type Divestiture
Deal Value 2.5B ZAR

Target

Kwikot

Benoni, South Africa
Kwikot is a water heater business that manufactures and supplies geysers, heat pumps, water heaters & more to plumbing merchants. Kwikot is based in Benoni, South Africa.

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Buyer(S) 1

Buyer

Haier

Qingdao, China
Category Company
Founded 1984
Sector Consumer Products
Employees112,458
Revenue 261.4B CNY (2023)
DESCRIPTION

Haier is a manufacturer and distributor of home appliances. Haier provides refrigerators, freezers, washing machines, dryers, household, and commercial air-conditioners, purifiers, fresh air systems, electric water heaters, gas water heaters, solar water heaters, heat pump water heaters, vacuum cleaners. Haier was founded in 1984 and is based in Qingdao, China.

DEAL STATS #
Overall 2 of 2
Sector (Consumer Products) 2 of 2
Type (Divestiture) 2 of 2
Country (South Africa) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-15 GE Appliances

Louisville, Kentucky, United States

GE Appliances is a producer of home appliances. The Company produces refrigerators, stoves, microwaves, dishwashers, washing machines, and other products.

Buy $5.4B

Seller(S) 1

SELLER

Electrolux Group

Stockholm, Sweden
Category Company
Founded 1901
Sector Consumer Products
Employees45,000
Revenue 134.5B SEK (2023)
DESCRIPTION
Electrolux plant in St. Cloud, Minnesota.
Electrolux plant in St. Cloud, Minnesota.

Electrolux Group is a multinational household and professional appliances manufacturer. Electrolux Group was founded in 1901 and is based in Stockholm, Sweden.

DEAL STATS #
Overall 9 of 9
Sector (Consumer Products) 1 of 1
Type (Divestiture) 7 of 7
Country (South Africa) 1 of 1
Year (2024) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-08 La Compagnie

Lisses, France

La Compagnie is an independent service provider (ISP) specialized in repairing domestic appliances. La Compagnie is based in Lisses, France.

Buy -
Mergr

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