Water technology company AO Smith India has finished the acquisition of Hindustan Unilever’s water purification business Pureit.
HUL announced the completion of the sale and divestment process of Pureit in a regulatory filing on Friday.
“..approval by the Board of Directors for sale and divestment of Company’s Water Purification business carried under the brand ‘Pureit’ including the trademarks, copyrights and other intellectual properties and identified assets and contracts associated with the business, as a going concern on slump sale basis, to AO Smith India Water Products Private Limited,” HUL said in the filing.
“Company has, on 1st November 2024, completed the sale and divestment of its Water Purification business carried under the brand Pureit,” it added.
In July, HUL announced the sale of its water purification business to AO Smith India for around ₹601 core ($72 million) in a regulatory filing. The turnover of the water purification business under Pureit is ₹293 crore in the financial year ending March 31, 2024.
According to the regulatory filing, HUL’s water purification business is part of the company’s overall Home Care business, and the company does not separately track its net worth.
AO Smith aims to expand presence
AO Smith Corporation announced the completion of Pureit for approximately $120 million, subject to customary adjustments, it said in a statement on Friday.
“Pureit complements our premium brands in the market and their strength in e-commerce will allow us to expand our presence in that channel,” said Kevin J. Wheeler, Chairman and CEO of AO Smith.
“This acquisition aligns with our strategy of adding scale and enhances our premium water treatment product portfolio and distribution footprint,” he added.
Pureit was launched in 2004 in Chennai. It aims to provide accessible and safe drinking water for people in South Asia and beyond. The brand currently operates in countries including India, Bangladesh, Sri Lanka, Vietnam, and Mexico.
Pureit offers diversified products such as water purifiers, related devices, filters, and spares. AO Smith India Water Products Private Ltd is a subsidiary of AO Smith Corporation, USA.
