NEW DELHI: Global water technology company AO Smith Corporation announced on Friday that it has completed its acquisition of Pureit, the water purification business of FMCG giant HUL.
Pureit offers residential water purification solutions in India, Bangladesh, Sri Lanka, Vietnam, and Mexico.
Earlier in July, HUL had announced the sale of its water purification business to AO Smith India Water Products for $72 million (around Rs 600 crore) as part of a broader transaction led by its parent company, Unilever.
AO Smith said that the purchase price for the acquisition will be approximately $120 million in cash, subject to standard adjustments.
“This acquisition aligns with our strategy to add scale and enhances our premium water treatment product portfolio and distribution reach,” said AO Smith Chairman and CEO K.J. Wheeler.
For the year 2023-2024, Pureit’s business turnover was estimated at Rs 293 crore, contributing less than 1 percent to HUL’s overall turnover.
“We are excited to welcome Pureit to the A.O. Smith family. Pureit’s legacy of effective water purification has made it an industry leader,” said Parag Kulkarni, president of AO Smith India Water Products.
He added that together they will elevate the brand and expand their presence across South Asia.