Electrolux acquires Vintec

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Electrolux-Vintec-HeaderElectrolux has communicated it has agreed to acquire Vintec, an Australia and Singapore-based company which supplies a wide range of climate-controlled wine cabinets throughout the Asia Pacific region. Vintec sells products under the brands Vintec and Transtherm for both residential and professional customers. “We see a strong growth potential for these products in Asia, as wine consumption is increasing and penetration of wine cabinets is still at a low level – said Kenneth Ng, Head of Electrolux Major Appliances Asia Pacific -. Vintec has a good strategic fit with our major appliances business and further strengthens Electrolux focus on delivering great taste experiences to consumers”. The transaction is expected to close in the third quarter 2016.