Franke Group Acquires Stainless-Steel Tap Producer Nokite
Indonesia: The Franke Group has acquired 100% of Nokite EcoSmart Water Heating Systems. Nokite, recognized for its innovative designs and manufacturing excellence, employs around 150 people and was the first to produce stainless-steel taps in China for global distribution. The acquisition strengthens Franke Home Solutions, a division specializing in intelligent kitchen systems, aligning with the brand's high-end positioning. Financial details of the deal remain undisclosed.
The integration positions Franke to capitalize on regulatory trends phasing out lead in kitchen taps, driving rapid growth in the stainless-steel segment. Nokite’s expertise enhances Franke’s portfolio, while Franke’s increasing global demand optimizes Nokite’s production capabilities, ensuring significant value creation. This strategic move reinforces Franke Home Solutions’ presence in the global kitchen tap market.
Source: Franke