Electrolux has announced it will acquire wine cabinet maker Vintec for an undisclosed amount.
The Swedish appliance company said in a statement that the Leichhardt, Sydney-based Vintec – which sells Vintec and Transtherm branded products – was a good match for its existing kitchen products range.
“[Generally,] food lovers believe a fine bottle of wine, properly stored and served, goes hand in hand with good food,” Appliance Retailer reports local managing director Mike Putt as saying.
“The elegant design and consumer benefits of the Vintec model range will complement our cooking and kitchen products, particularly the high-end brands such as AEG and Electrolux.”
As well as consumer- and enterprise-level wine fridges, Vintec is in the third year of a discount promotion with Treasury Wine Estates, offering loyalty discounts on fridges to customers buying a certain amount of wine.
The Australian Financial Review reports that industry insiders believe the sale of Vintec – which has revenues of around $22 million – to be around $20 – 22 million.