04. December 2024
The Franke Group has acquired Nokite EcoSmart Water Heating Systems (Guangdong), a producer of stainless-steel taps and accessories for residential kitchens. Financial details of the transaction will not be disclosed. According to a press release from the kitchen specialist based in Aarburg in the canton of Aargau, Nokite is known for “its manufacturing excellence and innovative product solutions” and has been in the business for over 20 years. The company employs around 150 people and will become part of Home Solutions, a division of the Franke Group.
Nokite was the first producer of stainless steel taps in China and its expertise “fits perfectly with the high-end positioning of the Franke brand”. Franke expects the regulatory trends towards the elimination of lead to rapidly grow the stainless steel tap segment. This makes “Nokite’s specific know-how and experience particularly valuable”. According to Barbara Borra, CEO/President of Franke Home Solutions, Nokite’s expertise in multifunctional taps aligns well with Franke’s strategic attention to the growing water treatment and purification market.
The Franke Group is a leading global producer and supplier of solutions and equipment for residential kitchens, chain restaurants, convenience stores and coffee preparation. Employing about 7,700 people in 35 countries, the Franke Group is owned by Artemis Group, Switzerland. Franke Home Solutions generated net sales of about 932 million Swiss francs in 2023 with around 4,200 employees in over 30 countries. ce/mm
