Electrolux Acquires Wine Cabinet Company in Asia Pacific

STOCKHOLM–(BUSINESS WIRE)–Electrolux (STO:ELUXA) (STO:ELUXB) today announced it has agreed to
acquire Vintec, an Australia and Singapore-based company which supplies
a wide range of climate-controlled wine cabinets throughout the Asia
Pacific region.

With annual sales of more than AUD 22 million (approx. SEK 139 million),
Vintec sells products under the market leading brands Vintec and
Transtherm for both residential and professional customers. About two
thirds of sales are in Australia, where Vintec also engages over 9,000
consumers through the Vintec Club. This membership club focuses on
enhancing the ownership experience through wine appreciation events,
accessory offers and wine recommendations.

“We see a strong growth potential for these products in Asia, as wine
consumption is increasing and penetration of wine cabinets is still at a
low level,” said Kenneth Ng, Head of Electrolux Major Appliances Asia
Pacific. “Vintec has a good strategic fit with our major appliances
business and further strengthens Electrolux focus on delivering great
taste experiences to consumers.”

Vintec was founded in 1998 and has a leading position in Australia and
other core markets in Asia. The company offers freestanding and
integrated models ranging from compact 30-bottle cabinets – suiting most
domestic kitchens – to 4,000-bottle walk-in wine cellars.

The transaction is expected to close in Q3, 2016.

Electrolux is a global leader in home appliances and appliances for
professional use, based on deep consumer insight. We offer thoughtfully
designed, innovative and sustainable solutions, developed in close
collaboration with professional users. The products include
refrigerators, ovens, cookers, hobs, dishwashers, washing machines,
vacuum cleaners, air conditioners and small domestic appliances. Under
esteemed brands including Electrolux, AEG, Zanussi, Frigidaire and
Electrolux Grand Cuisine, the Group sells more than 60 million products
to customers in more than 150 markets every year. In 2015, Electrolux
had sales of SEK 124 billion and 58,000 employees. For more information
go to www.electroluxgroup.com

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Contacts

Electrolux
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