The Midea Group has announced its acquisition of the Teka Group, excluding its Russian operations (Teka Rus LLC), in a move aimed at enhancing Teka's global competitiveness and expanding into new markets and product categories.
Based in Eschborn and Madrid, the Teka Group operates three core brands, Teka, Küppersbusch, and Intra, with a strong presence across Europe, Asia, and Latin America. The acquisition will combine Midea's technological and manufacturing capabilities with Teka's brand heritage and regional footprint.
According to Midea, the deal will support Teka in strengthening its organisational structure, broadening its product portfolio, and entering new market segments. The two companies aim to offer consumers a wider range of advanced household solutions.
Jian Fu, President of Midea International Business, stated: 'We have successfully combined the best of both worlds: Midea's technological and manufacturing excellence with Teka's strong brand heritage and consumer knowledge to provide innovative solutions to customers worldwide.'
Teka CEO Mauro Correia added: 'The merger with the Midea Group represents an exciting new chapter for Teka. This integration will accelerate our commercial development, boost our industrial and R&D capabilities, and enable us to expand our reach into new markets and categories.'
The acquisition marks a strategic step for Midea in reinforcing its global footprint while enabling Teka to scale its operations and innovation capabilities more rapidly.
Source: www.moebelmarkt.de