Ariston Group announces the completion of the acquisition of a production site in Egypt from Universal Group, a historic Egyptian manufacturing company founded by Mr. Youssri Kotb.
Located on the 6th of October industrial park, near Cairo, and with a total area of 40,000 square meters and approximately 350 employees, the new facility is already running and will produce a range of domestic water heating solutions developed to serve the needs of many African and Middle Eastern markets.
The investment further reinforces the group's positioning in the global hot water sector, a business that is constantly expanding and in which the Ariston brand is among the key players.
The decision to invest in Egypt, a country with an important manufacturing backbone, is in line with the Group's strategy to optimize supply chain efficiency and speed by serving local markets through a network of centrally managed production sites located in different geographies, to increase the resilience of the industrial footprint, foster effectiveness and maximize the impact on costs and logistics.
In connection with this transaction, Ariston Group was advised by Mezzan Advisors as financial advisors.