Nokite Eco Smart Water Heating Systems (Guangdong) Co., Ltd., is acquired by FRANKE Group and becomes one member of Franke Home Solutions Division.

Hereby, we forward the news press by FRANKE Group

Franke Group strengthens global market position for stainless-steel kitchen taps

Franke Group acquires Nokite, a leading producer of high-quality stainless-steel kitchen taps and accessories

Aarburg, 03 December 2024

The Franke Group has acquired Nokite Eco Smart Water Heating Systems (Guangdong) Co., Ltd., a leading Chinese producer of stainless-steel taps and accessories for residential kitchens. As part of the Franke Home Solutions division, the company will support Franke’s focus on intelligent kitchen solutions and the growing water treatment market with its innovation strength and engineering expertise in water taps, thus strengthening Franke's global market presence and product portfolio. In addition, the regulatory trend towards the elimination of lead will accelerate the growth of the stainless-steel tap segment, making Nokite's expertise particularly valuable.

The Franke Group, headquartered in Aarburg, Switzerland, has acquired 100% of the shares in Nokite EcoSmart Water Heating Systems (Guangdong) Co., Ltd. from the KWC Group, a company majority-owned by funds advised by Equistone Partners Europe. Nokite is a leading designer and producer of high-quality stainless-steel kitchen taps in China for global distribution. Nokite, known for its manufacturing excellence and innovative product solutions, has been in the business for over 20 years and was the first producer of stainless-steel taps in China. The company employs around 150 people. Financial details of the transaction will not be disclosed.

Nokite will become part of Franke Home Solutions, a division of the Franke Group and the world's leading provider of intelligent systems and solutions for residential kitchens.

The integration of Nokite into the Franke Group is an important step in strengthening the presence and focus of Franke Home Solutions in the global market for kitchen taps. Nokite’s expertise in stainless-steel taps fits perfectly with the high-end positioning of the Franke brand. In addition, regulatory trends towards the elimination of lead are expected to rapidly grow the stainless-steel tap segment, making Nokite's specific know-how and experience particularly valuable. In return, Franke's continued volume growth will fully leverage Nokite's production assets and significantly increase value creation.

Barbara Borra, CEO/President Franke Home Solutions, highlights the significance of the acquisition: “Nokite's engineering capabilities are crucial to enhance our product offering. Their expertise in multifunctional taps aligns well with our strategic attention to the growing water treatment and purification market, driving further our commitment to high quality, intelligent kitchen solutions.”

Franke Group, headquartered in Aarburg, Switzerland, is a leading global producer and supplier of solutions and equipment for residential kitchens, chain restaurants, convenience stores and coffee preparation. The company has a global presence, employing about 7,700 people in 35 countries. In 2024, net sales amounted to around 2.42 billion Swiss francs. Franke Group is owned by Artemis Group, Switzerland. For more information visit franke.com.

Franke Home Solutions is a division of Franke Group and the world's leading provider of intelligent systems and solutions for the residential kitchen. Operating worldwide, Franke Home Solutions generated net sales of about 932 million Swiss francs in 2024 with around 4,200 employees in over 30 countries. The product range covers all areas in the kitchen – from food preparation and cooking to disposal, cleaning and air treatment, expanding towards the entire home. Franke Home Solutions offers the consumer an unlimited home experience – simple, hygienic and environmentally friendly. For more information visit franke.com.

Images

Barbara Borra, President/CEO

of Franke Home Solutions

Nokite premises in Guangdong, China