Electrolux acquires Continental brand in Latin America
Electrolux today announced that the Brazilian court administering the bankruptcy of Mabe Brazil has accepted a BRL 70 million (SEK 178 million) bid to acquire the intellectual property assets of the estate. Electrolux will consequently take over the rights to the Continental brand of home appliances.
Continental is a well-known, traditional brand, with a long history of supplying cooking, cooling and laundry products to Brazilian families.
“Continental will be a valuable asset to Electrolux, supporting the continued profitable growth in our region,” said Ricardo Cons, Head of Electrolux business area Major Appliances Latin America. “The acquisition will enable us to further expand our market coverage by offering great experiences to more consumers.”
For further information, please contact Electrolux Press Hotline, +46 8 657 65 07.
Electrolux shapes living for the better by reinventing taste, care and wellbeing experiences, making life more enjoyable and sustainable for millions of people. As a leading global appliance company, we place the consumer at the heart of everything we do. Through our brands, including Electrolux, AEG, Anova, Frigidaire, Westinghouse and Zanussi, we sell more than 60 million household and professional products in more than 150 markets every year. In 2016 Electrolux had sales of SEK 121 billion and employed 55,000 people around the world. For more information go to www.electroluxgroup.com.