Midea Group has completed the acquisition of Teka Group (excluding Teka Rus LLC). This strategic operation, initially disclosed in June 2024, strengthens Teka Group’s global competitiveness and creates the conditions for further expansion in new product categories and markets. This acquisition combines Midea’s technological and manufacturing potential with Teka Group’s century-long brand experience.
Teka Group will enhance its operations, expand its product lines, and enter new product categories with the assistance of Midea. The transaction will allow to reinforce the organizational structure and the three trademarks of Teka Group (Teka, Küppersbusch, and Intra), while leveraging Midea’s global operations and R&D capabilities to unlock synergies.
“We are delighted to extend a warm welcome to Teka Group as a member of the Midea family – Jian Fu, President of Midea International Business, Midea Group, states –. We have successfully combined the best of both worlds: Midea’s technological and manufacturing excellence with Teka’s strong brand heritage and consumer insight, to provide customers worldwide with innovative solutions and enhanced value”.
A new chapter begins for Teka
The transaction further solidifies Teka Group’s financial stability, operational efficiency, and market presence. “The merger with Midea Group represents a thrilling new chapter for Teka – Mauro Correia, CEO of Teka Group, says –. This integration will expedite our commercial development, foster industrial and R&D capabilities, allowing us to broaden our reach into new markets and categories and provide our customers and partners with even more innovative lifestyle solutions and designs”.
Teka is a multinational group founded in 1924 in Germany and currently operates in over 120 countries across five continents. It specializes in the design and manufacture of household appliances, stainless steel sinks and faucets. Among its kitchen products are ovens, cooktops and hoods.
The company has established significant market positions in countries such as Spain, Portugal, Mexico, Chile, Thailand, Turkey, Germany, the United Arab Emirates, and the Scandinavia. It produces millions of products annually and operates 10 factories in Europe, Asia, and the Americas, employing nearly 3,000 professionals.
A giant with 38 innovation centres
Midea Group, established in 1968, ranked 277 on the 2024 Fortune Global 500 list, and is one of the world’s largest home appliance manufacturing companies. Headquartered in Foshan (Guangdong Province, China), the Group has a gross revenue of €53.08 billion and employs more than 190,000 people worldwide. The company operates 44 manufacturing bases and 38 innovation centres. Its commitment to R&D has resulted in more than 90,000 patents granted to date.
At present, Midea’s products and services have served more than 500 million customers worldwide. The Group includes several brands: Midea, Little Swan, Toshiba, WAHIN, COLMO, Clivet, Eureka, KUKA, GMCC, Welling, LINVOL, and Wandong.
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