AO Smith acquires Pureit for $120 million

Global water technology company AO Smith Corporation has acquired Pureit, a Unilever PLC business that offers a broad range of residential water purification solutions in South Asia, including Bangladesh.

"This acquisition aligns with our strategy of adding scale and enhances our premium water treatment product portfolio and distribution footprint," said Kevin J Wheeler, chairman and chief executive of AO Smith.

Headquartered in Wisconsin USA, AO Smith announced the completion of acquisition nearly four months after it had signed an agreement to acquire Pureit at approximately $120 million in cash, subject to customary adjustments.

Pureit has annual sales of approximately $60 million, primarily in India, AO Smith said in a statement.

Pureit was first launched in 2004 in India's Chennai to provide accessible and safe drinking water to the fast-growing populations of South Asia, and beyond.

Today, it is a leading water purification business operating in India, Bangladesh, Sri Lanka, Vietnam and Mexico, among other markets, with a diversified product offering across devices, filters and spares, the press statement reads.

Pureit's history of providing effective water purification solutions has made them a leader in the water industry, said Parag Kulkarni, president of AO Smith India Water Products Private Ltd.

Sarifuddin Nawroz Ahmed, Pureit's head of business in Bangladesh, said: "The acquisition marks an exciting chapter for Pureit in Bangladesh as we leverage AO Smith's expertise to further our commitment to providing safe and pure drinking water to our customers."