The Franke Group, a global leader in intelligent kitchen solutions, has acquired Nokite EcoSmart Water Heating Systems (Guangdong) Co., Ltd., a prominent Chinese producer of stainless-steel taps and kitchen accessories. This acquisition, under the Franke Home Solutions division, aims to bolster Franke's global market presence and expand its product portfolio in the growing water treatment and kitchen solutions market.
Nokite, headquartered in Guangdong, China, has over 20 years of experience and is recognized for its innovation in stainless-steel taps, being the first to manufacture them in China. Employing around 150 people, Nokite's expertise in high-quality, lead-free tap solutions is particularly significant in light of increasing regulatory trends towards eliminating lead in household products. This acquisition aligns with Franke's strategic focus on sustainable and high-performance kitchen solutions, leveraging Nokite's engineering capabilities to enhance its offerings in water taps and treatment systems.
Barbara Borra, CEO and President of Franke Home Solutions, emphasized the strategic importance of this acquisition, stating, '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.'
The integration of Nokite into Franke Home Solutions will not only support volume growth but also maximize the value of Nokite's production assets. This move enhances Franke's capacity to meet the rising demand for lead-free, stainless-steel taps globally, solidifying its position as a leader in intelligent residential kitchen systems.
Franke Group, headquartered in Aarburg, Switzerland, employs about 7,700 people across 35 countries. In 2023, the company reported net sales of approximately 2.42 billion Swiss francs. Franke Home Solutions, a division of the Franke Group, operates in over 30 countries with a workforce of 4,200 employees and generated net sales of 932 million Swiss francs in 2023. The division offers a comprehensive product range for residential kitchens, including food preparation, cooking, disposal, cleaning, and air treatment solutions, with a commitment to creating hygienic, environmentally friendly, and innovative kitchen experiences.
This acquisition underscores Franke's dedication to expanding its product innovation and sustainability leadership in the residential kitchen sector.
More information:
Franke Group
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www.franke.com