Electrolux announced it reached an agreement to acquire Best, European manufacturer of design kitchen hoods. The operation has the aim of developing a fully comprehensive offering of built-in cooking solutions and will further support long-term profitable growth in the region.
«The acquisition of Best – commented Dan Arler, head of Electrolux business area Major Appliances Europe, Middle East and Africa – is a perfect strategic match to reinforce Electrolux capabilities for design, R&D and manufacturing of kitchen hoods, which is a key aspect in offering consumers a simply outstanding cooking experience.»
In 2016 Best reached a net sales of 42 million euro. The company has 450 employees, primarily at manufacturing sites in Cerreto d’Esi (central Italy) and Zabrze (southern Poland). It is part of Broan-NuTone, LLC, a North American manufacturer and distributor of residential ventilation products, that will continue to design, manufacture and market the Best brand of kitchen ventilation products in North America. The acquisition is subject to regulatory approvals and is expected to be completed during the third quarter of 2017.