Refreshment focuses on the water dispenser/cooler, office coffee service and vending sectors, while also taking an in-depth look into products for vending from bottled water and drinks, to snacks and confectionery. It also focuses on hydration, health and wellness, new technologies and environmental and social responsibility issues.
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Unilever has announced the sale of its stake in Qinyuan Group (also known as 'Truliva'), a company known for its water purification solutions in China, to Yong Chao Venture Capital.
The deal, which is set to close later this year pending customary conditions, marks a strategic move for Unilever as it continues to refocus its portfolio on high-growth areas. Earlier this month, Unilever also sold its Pureit water purification business to A. O. Smith.
Founded in 1998, Qinyuan specialises in environmentally friendly products, such as water purification and commercial water equipment. In 2014, Unilever acquired shares in Qinyuan. Its service network covers nearly all regions of China, improving its ability to address local water quality and market needs.
Eduardo Campanella, president of Unilever Home Care, highlighted: “This move aligns with our Growth Action Plan by shifting our focus towards more dynamic sectors. Qinyuan’s essential role in providing water purification solutions to millions of customers in China makes this a strategic transfer. Yong Chao Venture Capital’s extensive expertise in the Chinese market positions them well to advance the brand. ”
Terms of the transaction were not disclosed.
#Unilever #QinyuanGroup #Truliva #China
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