The Franke Group – to which Faber belongs – acquired a majority stake in Elikor LLC, a company operating in the kitchen hood market in Russia. This operation is part of Franke’s growth strategy for its kitchen range hood sector, with the main aim of reinforcing the worldwide presence, production capacities and R&D competencies of its subsidiary Faber, ultimately strengthening its position in the hoods product segment. Elikor expands the Franke Group’s portfolio of brands, becoming an active player in the Business Unit Hoods. Faber, thanks to its high expertise, will guarantee the support, know-how and synergies needed to strengthen Elikor as production site and research and development center. Besides, Faber will take part in the promotion of the Russian brand in the local market and in other strategic geographic areas. Elikor will become a key center for competence in the kitchen hood sector in Russia for the Franke Group. With the support of the Agency for Technological Development of the Russian Federation, Elikor and Faber plan major contributions to the project in terms of developing innovative products in line with lifestyle and technology trends. “This acquisition – explains Alexander Zschokke, CEO of the Franke Group – is not only enriching our own portfolio of brands with a prestigious and longstanding company in the Russian kitchen hood industry, but is also taking another important step forward in consolidating our own competence in the kitchen hood segment. Together with Faber, we will invest in the Russian market – and we look forward to cooperating closely with the current management of Elikor, which we very much value and with whom we share the same company values and philosophy”.
