Midea Group Completes Acquisition of Teka Group, Ushering in a New Era

Midea Group's New Era With Teka

Midea Group, a leading global technology company renowned for its innovation, has successfully completed the acquisition of Teka Group, excluding Teka Rus LLC. This strategic move, originally announced in June 2024, aims to empower Teka's robustness in the global marketplace and drive its rapid expansion into new product categories and markets.

The merger brings together Midea's technological prowess, production scale, and innovative capabilities with Teka's century-old brand heritage and strong presence across Europe, Asia, and Latin America. This combination is expected to provide consumers worldwide with a comprehensive array of innovative home solutions.

The integration will see Midea's advanced manufacturing processes enhance Teka's organizational structure and expand its iconic brands - Teka, Küppersbusch, and Intra. By leveraging Midea's global operations and R&D capabilities, the partnership is set to create significant synergies.

Jian Fu, President of Midea's International Business, expressed excitement over Teka joining the Midea family, stating that this collaboration fuses Midea's manufacturing excellence with Teka's consumer insights. This synergy promises to unveil innovative solutions and add real value for customers around the globe.

Mauro Correia, CEO of Teka Group, stated that this merger marks an exciting new chapter for Teka. The integration will expedite their business growth, enhance industrial and R&D capabilities, and enable them to offer customers and partners even more innovative lifestyle solutions and designs.

Moreover, the acquisition fortifies Teka Group's financial stability, operational efficiency, and market competitiveness, crucial elements in today's economic landscape. Current customers, partners, and employees can expect both continuity and new growth opportunities, thanks to Midea's commitment to innovation and technological leadership.

Founded in 1968, Midea Group occupies a significant position on the Fortune Global 500 list, ranking 277 in 2024. As one of the world's largest home appliance manufacturers, Midea’s operations extend beyond just smart home appliances. The company excels in six core sectors, including smart home solutions, industrial technologies, building technologies, robotics and automation, medical technologies, and logistics through Annto.

Midea, which operates from China, boasts a revenue of approximately €53.08 billion and employs over 190,000 individuals worldwide, maintaining 44 manufacturing sites and 38 innovation centers.

Meanwhile, Teka Group, founded in 1924 in Germany, is present in over 120 countries across five continents. With strong market positions in countries such as Spain, Portugal, Mexico, Chile, Thailand, Turkey, Germany, the UAE, and Scandinavia, Teka produces millions of kitchen and bath products annually.

Operating 10 factories globally, Teka employs nearly 3,000 people and prides itself on its strong market recognition for its leading brands: Teka, Küppersbusch, and Intra. This recognition showcases Teka’s commitment to innovation, quality, and design with 34 awards in the last two years for excellence in these areas.

Overall, the merger between Midea Group and Teka Group is poised to drive growth and innovation in kitchen and home solutions, promising enhanced customer experience and an exciting variety of new products in the future. The combination of capabilities from both companies indicates a promising trajectory for their collaborative efforts, setting a robust foundation for the next century.