ASKO Sold To Antonio Merloni Group

ASKO Sold To Antonio Merloni Group

Richardson, TX ASKO Appliances, the manufacturer whose dishwashers and laundry products are targeted at the high-end market in the U.S. and worldwide, has been acquired by the Antonio Merloni Group, one of Europe's leading white goods manufacturers.

The transaction, expected to be completed this summer, will see ASKO's current parent company, Uponor Oyj, divest itself of the appliance unit in an effort to focus on its core business plastic pipe systems.

At the same time, the move will give the Fabriano, Italy-based Antonio Merloni Group added market presence in North America, northern Europe and Australia, the companies said.

Terms of the transaction were not disclosed.

"We believe that we have found an outstanding new home for the Appliance Division," said Steve Piro, president of the Richardson, TX-based ASKO Inc., North America.

"ASKO Appliances has cooperated with the Antonio Merloni Group for more than 20 years, and has marketed its products in the Nordic countries. This acquisition advances our strategic plan for ASKO Inc. to expand our position as the preeminent supplier of upscale cleaning products."

ASKO has a significant market presence in the U.S., Nordic and Baltic regions and Australia, while Antonio Merloni is strong in southern, central and eastern Europe, as well as in South America and Asia, the companies noted.