Culligan agrees to divest Billi to Strix as it seeks clearance for its global combination with Waterlogic
ROSEMONT, IL, USA – Following its agreement to combine with Waterlogic Group Holdings (“Waterlogic”), a global designer, manufacturer, distributor and service provider of purified drinking water dispensers, Culligan International (“Culligan”), the innovative brand in consumer-focused sustainable water solutions and services, has reached an agreement to sell Billi, a producer of filtered boiling and chilled multifunctional taps, to Strix Group Plc (“Strix”). This divestiture seeks to address concerns raised by the UK’s Competition and Markets Authority (CMA), the Australian Competition and Consumer Commission (ACCC), and the New Zealand Commerce Commission (NZCC).
The agreement to divest Billi to Strix, a global leader in kettle controls and filtration technologies, seeks to address the overlap between the Billi and Zip businesses in the UK, Australia and New Zealand.
This agreement reflects undertakings that have been submitted to regulators to divest the Billi business to Strix and is subject to the relevant approvals by the competition regulators. As regards the UK, the CMA has confirmed that the offer to divest Billi UK may be acceptable as a suitable remedy, and their assessment will continue with a consultation, the customary next step in the approval process. The undertakings to divest the Billi business in Australia and New Zealand have already been accepted by the ACCC and NZCC, subject to approval of Strix as a purchaser.
This new and committed investor would support Billi to thrive and flourish independently under new ownership and further expand in the fast-growing area of under-the-sink solutions for premium filtered drinking water systems to the benefit of employees, distributors and customers.
Until completion of the divestiture, Billi will continue to operate business as usual, delivering exceptional service for customers, supporting their teams, and executing on their 2022 operating plans.
We anticipate the sale of Billi to complete a short time after the close of the global combination of Culligan and Waterlogic, which is expected in the fourth quarter of 2022, subject to final regulatory approvals.
About Culligan International
Founded in 1936 and headquartered in Rosemont, Illinois, Culligan International is a world leader in delivering premium water services and solutions that improve the health and wellness of consumers. Committed to sustainable solutions, the company offers some of the most technologically advanced water filtration and treatment services and solutions available, including water softeners, drinking water systems, and whole-house systems for homeowners and bottleless coolers for businesses. Culligan’s network of dealers and direct operations is the largest in its industry, with more than 7,500 employees and 1,000 dealers in 90 countries. Culligan’s 35+ brands serve more than 50 million consumers every year and share a mission of bringing better water to consumers anywhere they need it – in the home, at work or on-the-go. For more information visit: www.corporate.culligan.com.
About Waterlogic
Waterlogic is an innovative designer, manufacturer, distributor and service provider of drinking water dispensers and accessories designed for environments such as offices, factories, hospitals, restaurants, hotels, schools and public spaces. From freestanding, countertop and integrated dispensers to high-volume hospitality solutions, water filling stations, fountains and boilers, every solution focuses on delivering the best quality water in the safest and most sustainable way. Waterlogic has its own subsidiaries in 23 countries. In addition, Waterlogic’s extensive independent global distribution network spans over 50 countries around the world in North and South America, Europe, Asia, Australia and South Africa. For more information visit: www.waterlogic.com.
About Strix
Isle of Man based Strix, is a global leader in the design, manufacture and supply of kettle safety controls and other components and devices involving water heating and temperature control, steam management and water filtration.
Strix's core product range comprises a variety of safety controls for small domestic appliances, primarily kettles. Kettle safety controls require precision engineering and intricate knowledge of material properties in order to repeatedly function correctly. Strix has built up market leading capability and know-how in this field since being founded in 1982.
Strix is admitted to trading on the AIM Market of the London Stock Exchange (AIM: KETL).
Media contact
Rosanna Turner
T: +44 (0)7925 035544
E: rosanna.turner@waterlogic.com
Investor Relations contact
Andy Kellogg
T: +1-847-430-1360
E: andy.kellogg@culligan.com
