Electrolux to Acquire German Company in Professional Laundry

STOCKHOLM, Jan. 22, 2018 /PRNewswire/ -- Electrolux today announced it has agreed to acquire Schneidereit GmbH, a supplier of laundry rental solutions for professional customers in Germany and Austria.

Schneidereit GmbH solutions allow customers a carefree experience by supporting the product throughout its lifetime. This enables customers to run their businesses without worrying about asset ownership or maintenance.

The acquisition enables Electrolux to develop its offering within the professional laundry business and supports the long-term profitable growth in Europe.

"Schneidereit adds a complementary business model to the Electrolux Professional offer, enabling us to help provide great experiences to an even wider customer base," said Alberto Zanata, Head of Electrolux Professional. "We're excited about the opportunity to leverage Schneidereit's competence in developing the way we do business, exploring functional sales which is an interesting growth area in our industry."

Net sales in 2016 amounted to around EUR 18 million (around SEK 175 million) and the company has approximately 110 employees throughout Germany.

The acquisition is expected to be completed during the first quarter of 2018 and is subject to regulatory approvals.

For further information, please contact Electrolux Press Hotline, +46-8-657-65-07.

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SOURCE Electrolux