- Created: Tuesday, 11 July 2017 10:16
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Electrolux announced on Friday that it has agreed to acquire Best, a European manufacturer of cooker hoods but the financial terms were not disclosed.
Of course Best hoods here are often seen in the UK as own label brand products from the likes of Britannia among others.
Of course the acquisition is subject to regulatory approvals and is expected to be completed during the third quarter of this year.
Best is part of Broan-NuTone, LLC, a North American manufacturer and distributor of residential ventilation products. Broan-NuTone will continue to design, manufacture and market the Best brand of kitchen ventilation products in North America.
Best had net sales in 2016 of 42 million euros, and 450 employees, primarily at manufacturing sites in central Italy and southern Poland.
Electrolux said the acquisition enables it to develop a fully comprehensive offering of built-in cooking solutions and will further support long-term profitable growth in the region.
Dan Arler, Head of Electrolux business area Major Appliances Europe, Middle East and Africa, said, "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."
This is probably not a huge purchase for Electrolux and likely won't make a huge difference to them all things considered but it will perhaps impact on existing deals that Best have with the likes of Glen Dimplex however, we'll have to wait and see what happens.