The Chinese multinational Midea buys the Teka appliance group

June 7 () –

The holding company Heritage B, the German shareholder that has controlled the Teka appliance group since April 2019, has reached an agreement to transfer ownership of the well-known appliance firm to the Chinese multinational Midea, as reported this Friday by the German company. .

The German company explains that the transaction will allow Teka to “improve and strengthen” its competitive position, while preserving the legacy of a brand with more than 100 years of history.

In this context, the agreement is still subject to the required approvals from the relevant regulators, while detailing that the closing of the transaction is expected to occur in the coming months.

The operation, which will allow the Teka group to continue promoting its growth and consolidation to compete globally, includes the group’s three brands: Teka, a leading brand in comprehensive kitchen solutions, which celebrates its 100th anniversary in 2024; Küppersbusch, the high-end home appliance brand founded in 1875 in the Ruhr region (Germany); and Intra, the timeless design brand of Scandinavian origin specialized in home solutions.

For its part, the Chinese multinational Midea will increase the capabilities of the Teka group in different strategic and operational areas, strengthening the company’s competitiveness in an increasingly “more complex and dynamic” market.

HSBC acts as exclusive financial advisor and Ashurst as legal advisor to the holding company Heritage B.

“Having the opportunity to be part of Midea will ensure a promising future for the company and its brands, given that it will allow the group to improve its innovation and manufacturing capacity, as well as take advantage of geographic synergies for greater international expansion,” as detailed by the director. delegate of the Teka group, Mauro Correia.