New Delhi, July 15, 2024.
Hindustan Unilever Ltd on Monday announced the sale of its water purification business under the Pureit brand to AO Smith India Water Products for USD 72 million (about Rs 600 crore) as part of a global transaction by its parent Unilever.
Globally, Unilever said it has agreed to sell its water purification business Pureit to AO Smith, a leading global water technology company. Pureit offers a range of water purification solutions across India, Bangladesh, Sri Lanka, Vietnam and Mexico, among others.
“The board of directors at their meeting held on July 15, 2024, has approved the sale and divestment of company’s water purification business carried under the brand ‘Pureit’, including the trademarks, copyrights and other intellectual properties and identified assets and contracts associated with the business, as a going concern on slump sale basis to AO Smith India Water Products Pvt Ltd,” Hindustan Unilever Ltd (HUL) said in a regulatory filing.