New Delhi [India], November 1 : FMCG major Hindustan Unilever Ltd on Friday announced it has completed the sale and divestment of its water purification business brand 'Pureit' to American company A. O.Smith Corporation.
On July 15, HUL's Board gave approval for the sale and divestment of 'Pureit' including the trademarks, copyrights and other intellectual properties and identified assets and contracts associated with the business, to A. O. Smith India Water Products Private Limited.
Pureit offers a broad range of residential water purification solutions, primarily in India.
"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 A. O. Smith Corp's Chairman and Chief Executive Officer Kevin J. Wheeler, said in a statement today.
"This acquisition aligns with our strategy of adding scale and enhances our premium water treatment product portfolio and distribution footprint," Wheeler added.
Pureit was first launched in 2004 in Chennai, to provide accessible and safe drinking water to the fast-growing populations of South Asia, and beyond.
Sreenivas Narayanan, General Manager - Pureit said that this partnership with A. O. Smith empowers us to deliver even more advanced, reliable, and accessible solutions to address the evolving water purification needs in India.
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