# Haier Smart Home to acquire Electrolux South Africa's water heater business

Haier Smart Home has agreed to acquire 100% equity in Electrolux South Africa Proprietary Limited, the water heater business of Electrolux Group, for an enterprise value of ZAR 2.45 billion (approx. RMB 980 million). The acquisition includes the Kwikot brand and is expected to complete in Q4 2024.

- Type: Acquisition
- Announced: 2024-07-18
- Where: South Africa
- Value: $130.0M (2.45B ZAR)
- Status: announced
- Products: electric water heaters, solar water heaters, gas water heaters, heat pumps
- Sectors: [HVAC and Industrial Refrigeration](https://endata.com/sectors/hvac-refrigeration.md)

## Companies

- [Haier Smart Home](https://endata.com/companies/11349.md) (acquirer)
- [Electrolux](https://endata.com/companies/16842.md) (target)
- [Electrolux South Africa Proprietary Limited](https://endata.com/companies/78694.md) (target)

## Sources

- [prnewswire.com](https://www.prnewswire.com/news-releases/haier-smart-home-intends-to-acquire-electrolux-south-africas-water-heater-business-302200561.html), 2024-07-18: "The acquisition is an important step in the strategic implementation of Haier Smart Home's development in African market."

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Data from Endata (https://endata.com/). Announcements are summarized from public sources and may be incomplete; check the linked originals.