Deal for Veetsan expected to close in the first half of 2015.
Multi-line foodservice equipment manufacturer Electrolux has reached an agreement to acquire Shanghai Veetsan Commercial Machinery Co. Ltd., China-based manufacturer of professional dishwashers. Electrolux expects the deal, which is subject to traditional regulatory approvals, to close during the first half of this year.
The deal will help Electrolux accelerate its growth in the Asia-Pacific region, specifically in China. "Professional dishwashing represents one of the most promising product categories as its penetration rate in China is still considerably lower than other categories, such as cooking or refrigerated storage," says Alberto Zanata, head of Electrolux Professional Products.