Electrolux to acquire European kitchen hoods company Best
Electrolux today announced it has agreed to acquire Best, a European manufacturer of innovative and well-designed kitchen hoods. The acquisition enables Electrolux to develop a fully comprehensive offering of built-in cooking solutions and will further support long-term profitable growth in the region.
Best had net sales in 2016 of EUR 42 million (around SEK 400 million) and 450 employees, primarily at manufacturing sites in Cerreto d’Esi (central Italy) and Zabrze (southern Poland). The company is part of Broan-NuTone, LLC, a North American manufacturer and distributor of residential ventilation products.
“The acquisition of Best is a perfect strategic match to reinforce Electrolux capabilities for design, R&D and manufacturing of kitchen hoods, which is a key aspect in offering consumers a simply outstanding cooking experience,” said Dan Arler, Head of Electrolux business area Major Appliances Europe, Middle East and Africa.
Broan-NuTone, LLC, will continue to design, manufacture and market the Best brand of kitchen ventilation products in North America. The acquisition is subject to regulatory approvals and is expected to be completed during the third quarter of 2017.
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.