Hindustan Unilever Limited (HUL) on Monday announced that it has signed an agreement for the sale of its Pureit business in India. In a regulatory filing, HUL said that the business is being sold to A.O. Smith, a global water technology company.
“The Board of Directors at their meeting held on 15th July, 2024, has approved the sale and divestment of company’s Water Purification business carried under the brand ‘Pureit’ including the trademarks, copyrights and other intellectual properties and identified assets and contracts associated with the business, as a going concern on slump sale basis, to A.O. Smith India Water Products Private Limited,” the company said in a regulatory filing.
Rohit Jawa, CEO & Managing Director, HUL, said, “This move is in line with our strategic intent to focus sharply on our core categories. Pureit provides essential water purification solutions to millions of loyal consumers, and I am confident the brand will thrive further under the ownership of A.O. Smith.”
Parag Kulkarni, President, A.O. Smith India Water Products Private Limited, said, “The Pureit brand, known for innovative water purification products, strong brand recognition and dedication to customer service, complements A.O. Smith’s geographic and channel presence. The Pureit team’s deep understanding of consumer needs and water treatment expertise adds tremendous strength to A.O. Smith in India, and we look forward to welcoming the Pureit team to the A.O. Smith family.”
The acquisition of Pureit is projected to close by the end of 2024. The transaction is subject to customary closing conditions, and HUL will continue to manage the business until the completion of the transaction, the company said.