London: FMCG giant Unilever on Tuesday said it will acquire Sweden-based air purification solutions provider Blueair for an undisclosed sum to foray into air purifier segment.
"Launched in 1996 in Stockholm, Blueair had a turnover of $106 million in 2015 and is a leading player in the premium category of air purifiers in markets like China, the US, Japan, South Korea and India. This significant venture in air purification will further complement Unilever's existing water purification business," Unilever said in a statement.
Unilever's Home Care business President Nitin Paranjpe said: "The Blueair brand and products are widely known and represent exceptional quality and design, as well as superior capacity and performance. Blueair was founded on the belief that business should be a force for good in society, which is shared by Unilever."
Unilever said terms of the deal were not disclosed and the transaction is subject to customary regulatory and other approvals.
Blueair launched its operations in India in May 2015 after testing the market for few years and aims to make India one of its top 3 markets globally in five years.
(This story has not been edited by NDTV staff and is auto-generated from a syndicated feed.)
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