LONDON, July 4, 2017 /PRNewswire/ --
Leading supplier of instant drinking water appliances, Zip Industries, an Australian company with a major presence in the UK market, today announced that it will join forces with Culligan International. Culligan has reached an agreement to acquire 100% of Zip for an undisclosed sum. The deal is expected to complete in August 2017.
Zip has been manufacturing and marketing Australian-designed instant boiling water appliances and filtered drinking water systems since 1947, and began operating in the UK in 1991. The company is focused on the delivery of instant, boiling, chilled and sparkling drinking water appliances in an environmentally friendly way. Zip employs some 700 people and Zip appliances are installed in over 76 countries across the globe.
John Doumani, Chief Executive of Zip, said: "We are delighted to have been recognised by Culligan as an innovator in the global market for boiling, chilled and sparkling instant drinking water appliances.
"Our innovation programme over recent years has seen the successful launch of products such as the Zip HydroTap G4, the Design Range and our range of Platinum finishes. We look forward to continuing to drive innovation behind water quality, enhanced functionality, energy efficiency and aesthetic appeal with the strong support of the Culligan team.
"Furthermore, we are very excited at the prospect of accelerating the global expansion of the Zip HydroTap by being part of Culligan, an iconic quality water business with a strong presence across North America, Latin America, Europe, Middle East and Asia."
Culligan is a global leader in residential, office, commercial and industrial water treatment with more than 800 Culligan dealers in over 90 countries. Zip's business operations and footprint (focused on Australia, New Zealand and the UK) are complementary to Culligan's global presence.
Scott Clawson, President and Chief Executive Officer of Culligan International said:
"We're thrilled to bring Zip into the Culligan team. I believe these businesses are a great fit with a shared focus on water purity, convenience, technology and innovation. By working together, we look forward to exploring opportunities to expand Zip's product range, particularly the HydroTap, into new markets internationally."
SOURCE Zip Industries