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Electrolux to divest Eureka brand

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Staff Writer |
Electrolux
Acquisition   Midea Group will buy

The Electrolux Group has made a strategic decision to focus its North American Small Appliances business on its strongest categories.

This is part of a process to improve the global competitiveness of the business area. In line with this decision, Electrolux has agreed to divest its North American vacuum cleaner brand Eureka to Midea Group.

The agreement includes most of the assets related to the Eureka brand. Sales of products under the Eureka brand amounted to approximately $60 million over the past 12 months.

The transaction is not expected to result in any material net one-off effects on the Group income statement. The transaction is expected to close before year end.


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