Another regional brand is gobbled up by Electrolux this time it’s a predominately Australian vine cooling company called Vintec.
Whether we will see the introduction of Electrolux branded wine or not to go with, who knows.
It could be a better fit, Europe wise at least, for Electrolux’s commercial products as getting into the cheap domestic wine cooler market that is dominated by cheap Chinese produced units would be tough and, probably not very profitable.
Whether we will see any of these Aussie units here we really do not know.
The full June 28th press release follows.
Electrolux today announced it has agreed to acquire Vintec, an Australia and Singapore-based company which supplies a wide range of climate-controlled wine cabinets throughout the Asia Pacific region.
With annual sales of more than AUD 22 million (approx. SEK 139 million), Vintec sells products under the market leading brands Vintec and Transtherm for both residential and professional customers. About two thirds of sales are in Australia, where Vintec also engages over 9,000 consumers through the Vintec Club. This membership club focuses on enhancing the ownership experience through wine appreciation events, accessory offers and wine recommendations.
“We see a strong growth potential for these products in Asia, as wine consumption is increasing and penetration of wine cabinets is still at a low level,” said Kenneth Ng, Head of Electrolux Major Appliances Asia Pacific. “Vintec has a good strategic fit with our major appliances business and further strengthens Electrolux focus on delivering great taste experiences to consumers.”
Vintec was founded in 1998 and has a leading position in Australia and other core markets in Asia. The company offers freestanding and integrated models ranging from compact 30-bottle cabinets – suiting most domestic kitchens – to 4,000-bottle walk-in wine cellars.