New acquisition strengthens market for stainless steel fittings
The Franke Group has acquired the manufacturer Nokite EcoSmart Water Heating Systems in order to expand its expertise in stainless steel taps. Nokite will be integrated into the Home Solutions division and complements the strategic focus on the growing water treatment market. The regulatory trend towards lead-free offers additional growth potential.
The Franke Group has acquired Nokite EcoSmart Water Heating Systems (Guangdong), a manufacturer of stainless steel taps and accessories for private kitchens. Financial details were not disclosed. According to a press release from the kitchen specialist from Aarburg, Nokite is “known for its outstanding manufacturing quality and innovative product solutions” and has been in business for over 20 years. The company employs around 150 people and is to be integrated into Franke’s Home Solutions division.
The expertise of Nokite, which was the first company to manufacture stainless steel mixer taps in China, “fits perfectly with the high-end positioning of the Franke brand”. Furthermore, Franke expects that the regulatory trend towards the elimination of lead will lead to rapid growth in the stainless steel fittings 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 faucets complements Franke’s strategic focus on the growing water treatment and purification market.
The Franke Group is a global manufacturer and supplier of solutions and equipment for domestic kitchens, chain restaurants, convenience stores and professional coffee preparation. It employs around 7700 people in 35 countries and is part of the Artemis Group, Switzerland. Franke Home Solutions generated net sales of CHF 932 million in 2023 with around 4200 employees in over 30 countries.