The Franke Group has acquired Nokite EcoSmart Water Heating Systems (Guangdong) Co., Ltd., a leading Chinese producer of stainless steel taps and accessories for residential kitchens. As part of the Franke Home Solutions division, the company will support Franke’s focus on intelligent kitchen solutions and the growing water treatment market with its innovation strength and engineering expertise in water taps, thus strengthening Franke's global market presence and product portfolio.
In addition, the regulatory trend towards the elimination of lead will accelerate the growth of the stainless steel tap segment, making Nokite's expertise particularly valuable.
The Franke Group, headquartered in Aarburg, Switzerland, has acquired 100% of the shares in Nokite EcoSmart Water Heating Systems (Guangdong) Co., Ltd. from the KWC Group, a company majority-owned by funds advised by Equistone Partners Europe. Nokite is a leading designer and producer of high-quality stainless steel kitchen taps in China for global distribution. Nokite, known for its manufacturing excellence and innovative product solutions, has been in the business for over 20 years and was the first producer of stainless steel taps in China. The company employs around 150 people. Financial details of the transaction will not be disclosed.
Nokite will become part of Franke Home Solutions, a division of the Franke Group and the world's leading provider of intelligent systems and solutions for residential kitchens.
The integration of Nokite into the Franke Group is an important step in strengthening the presence and focus of Franke Home Solutions in the global market for kitchen taps. Nokite’s expertise in stainless steel taps fits perfectly with the high-end positioning of the Franke brand. In addition, regulatory trends towards the elimination of lead are expected to rapidly grow the stainless steel tap segment, making Nokite's specific know-how and experience particularly valuable. In return, Franke's continued volume growth will fully leverage Nokite's production assets and significantly increase value creation.
Barbara Borra, CEO/president of Franke Home Solutions, highlights the significance of the acquisition: “Nokite's engineering capabilities are crucial to enhance our product offering. Their expertise in multifunctional taps aligns well with our strategic attention to the growing water treatment and purification market, driving further our commitment to high quality, intelligent kitchen solutions.”
