Techtronic mops up Hoover

Analysts welcome Hong Kong-based Techtronic's plan to acquire WhirlpoolÆs Hoover floor-care business for $107 million cash.

Techtronic Industries in Hong Kong has announced it would acquire WhirlpoolÆs Hoover floor-care business for $107 million cash and the assumption of some debt, marking the latest cross-border, outbound acquisition by an Asian company of an established US brand and business.

Hoover has a range of products for general and special-purpose vacuuming including upright, canisters, deep cleaners and hard-floor cleaners. Techtronic will acquire operational control of the business including manufacturing in Ohio, Texas and Mexico.

The companies have not disclosed...

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