Akshata Sharma
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FMCG giant Hindustan Unilever Limited (HUL) has sold its water purification business Pureit in India to AO Smith's Indian business for Rs 601 crore ($72 million).
Pureit offers a range of water purification solutions across India, Bangladesh, Sri Lanka, Vietnam and Mexico, among others.
AO Smith India Water Products Private Limited is the Buyer entity involved in the transaction. It is a subsidiary of AO Smith Corporation, USA.
"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," said Parag Kulkarni, president of A. O. Smith India Water Products Private Limited.
"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," Kulkarni added.
HUL launched Pureit in 2004 in Chennai, only to be introduced nationwide in 2008. The company entered the electric water purification segment in 2011.
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