Category Archives: Financial

Franke Group Acquires Røros Metall to Strengthen Nordic Presence and Ventilation Expertise

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In a strategic move to bolster its footprint in the Nordic region and reinforce its leadership in centralized ventilation, the Swiss-based Franke Group has announced the acquisition of Røros Metall AS, a premium Norwegian manufacturer renowned for its high-end RørosHetta range hoods and ventilation systems.

The deal, which involves the full acquisition of Røros Metall’s shares, marks a significant milestone in Franke’s growth strategy. While financial details remain undisclosed, the implications for the home solutions market are substantial.

A Powerful Synergy in Kitchen Ventilation

Røros Metall will now operate under Franke Home Solutions, the division of the Franke Group dedicated to intelligent kitchen systems and solutions. This integration is set to unlock new opportunities for innovation, combining Franke’s global scale and engineering excellence with Røros Metall’s craftsmanship and deep market knowledge in the Nordic region.

The acquisition is more than a geographic expansion—it’s a strategic alignment of values and vision. Both companies share a commitment to sustainability, energy efficiency, and premium design. By joining forces, they aim to accelerate the development of next-generation ventilation solutions that meet the evolving needs of modern kitchens.

What This Means for the Industry

– Stronger Nordic Market Position: Franke gains a deeper foothold in Norway and the broader Nordic region, enhancing its ability to serve local customers with tailored solutions.
– Sustainable Innovation: The partnership will focus on advancing eco-friendly, energy-efficient ventilation technologies.
– Global Growth for RørosHetta: With access to Franke’s international network, the RørosHetta brand is poised for broader exposure and expansion beyond its home market.

This acquisition underscores Franke’s ongoing commitment to innovation and excellence in the home kitchen space. As the demand for smarter, greener appliances continues to rise, the combined strengths of Franke and Røros Metall are set to shape the future of kitchen ventilation across Europe and beyond

Ebac Eyes Stronger Profitability Ahead Despite Dip in 2024 Turnover

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British appliance manufacturer Ebac is forecasting improved profitability in the coming years following strategic restructuring, including the closure of one of its production lines.

In newly published financial results for 2024, the County Durham-based company reported a drop in turnover from £17.7 million to £15.9 million. Despite the decline, directors described the year as “another challenging” period and emphasized that decisive actions had been taken to strengthen the business.

Ebac, known for its range of washing machines, dehumidifiers, water coolers, and heat pumps, said the changes are expected to streamline operations and position the company for a more sustainable and profitable future.

Electrolux Professional Group has completed the acquisition of the assets of Royal Range

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Electrolux Professional Group has today completed the acquisition of the assets of Royal Range, a US Commercial cooking company.

In connection with the completion of the transaction, Electrolux Professional Group has become the owner of all assets in Royal Range. The purchase price is not disclosed.

Electrolux Professional announced on November 11, 2025, that it had agreed to acquire the assets of Royal Range

iRobot Acquired by Picea Amid Chapter 11 Bankruptcy: What It Means for Roomba Owners

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In a surprising development that’s sending ripples through the smart home appliance industry, iRobot—the company behind the iconic Roomba robotic vacuum—has been acquired by Chinese contract manufacturing giant Picea. The acquisition comes as part of iRobot’s Chapter 11 bankruptcy proceedings, raising serious questions about the future of its products, services, and customer support.

What Happened?

iRobot, once a pioneer in consumer robotics and a household name thanks to its Roomba line, has officially filed for Chapter 11 bankruptcy protection. As part of the restructuring process, the company has been taken over by Picea, a major player in global electronics manufacturing. While the financial details remain under wraps, the move signals a major shift in iRobot’s operational control and strategic direction.

Why Roomba Owners Are Concerned

The news has sparked concern among Roomba users worldwide. With the company now under new ownership, many are wondering:

– Will existing Roomba warranties still be honored?
– What happens to software updates and app support?
– Will customer service remain accessible and responsive?
– Could data privacy policies change under new management?

These are valid questions, especially for customers who’ve invested in premium models or rely on Roomba’s smart home integrations.

What We Know So Far

As of now, Picea has not released a detailed roadmap for iRobot’s future. There’s been no official statement regarding warranty policies, ongoing support, or changes to the product lineup. However, transitions like this often involve a period of uncertainty as the new parent company evaluates operations and restructures accordingly.

What Should Roomba Owners Do?

Until more information is available, here are a few proactive steps Roomba users can take:

– Check your warranty status: Locate your proof of purchase and warranty documentation.
– Back up your app settings: If your Roomba uses the iRobot Home app, ensure your preferences and cleaning schedules are saved.
– Monitor official channels: Follow iRobot and Picea for updates on support, service, and product announcements.
– Consider alternatives: If you’re in the market for a new robotic vacuum, it may be worth exploring other brands with stable support ecosystems.

Final Thoughts

The acquisition of iRobot by Picea marks a pivotal moment in the evolution of the smart home appliance market. While the long-term implications remain to be seen, one thing is clear: consumers are watching closely. At WhiteGoodsNow, we’ll continue to monitor the situation and provide updates as they unfold.

Strix Sells Billi for £110M, Tripling Investment and Accelerating Debt Reduction

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Strix Group Plc has announced the sale of its Billi business to a newly formed Australian entity for £110 million in cash—a move that nearly triples its original investment and supports the company’s strategy to reduce debt.

The AIM-listed technology firm, renowned globally for its kettle safety controls and water-heating components, confirmed that the transaction values Billi at an enterprise value of £110 million on a cash-free, debt-free basis. The sale remains subject to shareholder approval.

Strix originally acquired Billi in November 2022 for £38 million. The divestment now delivers an estimated 3x return on that investment, translating to approximately 47.8 pence per Strix share—an 18% premium over the company’s recent share price.

This strategic move underscores Strix’s commitment to strengthening its balance sheet while sharpening its focus on core operations

iRobot, Maker of Roomba, Files for Bankruptcy Protection Amid Market Pressures

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iRobot, the pioneering company behind the Roomba smart vacuum cleaner, has filed for bankruptcy protection in the United States as it struggles to navigate a challenging global market.

The filing, made under a pre-packaged Chapter 11 process, will see Shenzhen-based Picea Robotics—iRobot’s primary manufacturing partner—take over ownership of the company. This strategic move comes after iRobot faced mounting competition from Chinese brands and was hit hard by rising tariffs.

According to court documents filed Sunday, iRobot was forced to slash prices and ramp up investment in innovation to stay competitive. However, U.S. tariffs of 46% on imports from Vietnam—where most of its devices for the American market are produced—added $23 million to its costs this year alone.

Once valued at $3.56 billion during the pandemic-driven boom in home automation, iRobot’s market value has plummeted to around $140 million. The company’s shares dropped more than 13% on the Nasdaq last Friday.

Despite the financial turbulence, iRobot has assured customers that its mobile app, product support, and supply chains will continue to operate without disruption.

Founded in 1990 by three MIT Artificial Intelligence Lab alumni, iRobot initially focused on defense and space robotics before launching the Roomba in 2002. The Roomba quickly became a household name, capturing 42% of the U.S. and 65% of the Japanese robotic vacuum market.

A proposed $1.7 billion acquisition by Amazon was blocked last year by the European Union’s competition authority, further complicating iRobot’s path forward.

Groupe Brandt Liquidated After Rescue Plan Fails: A Stark Warning for European Appliance Manufacturing

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The curtain has fallen on one of France’s most iconic appliance manufacturers. On Thursday, December 11, the Nanterre Commercial Court ordered the liquidation of Groupe Brandt, marking the end of a months-long effort to save the company through an employee-led cooperative. The decision spells the loss of approximately 700 jobs and halts production of legacy brands including Brandt, De Dietrich, Sauter, and Vedette.

This outcome underscores a broader and troubling trend: the continued erosion of European-based appliance manufacturing in the face of global competition, financial fragility, and investor hesitancy.

A Last-Ditch Effort That Fell Short

The final hope for Groupe Brandt rested on a bold proposal—a Scop (Société coopérative et participative), or employee cooperative, backed by Groupe Revive and entrepreneur Cédric Meston, co-founder of plant-based food brand HappyVore. The plan aimed to preserve local jobs and maintain production in the historic Loiret and Loir-et-Cher regions by turning employees into co-owners.

Despite strong political and regional support, including €17 million in public funding from the French state, Centre-Val de Loire region, and the city of Orléans, the plan ultimately collapsed. The court deemed the proposal financially unviable, citing a shortfall of €3–8 million that banks refused to cover.

Political Will Meets Financial Reality

The rescue effort drew unprecedented political attention. Industry Minister Sébastien Martin pledged €5 million in state aid, while regional leaders rallied to raise additional funds. Yet, even with this show of unity, the private sector’s reluctance to assume risk proved decisive.

With no viable path to cover the remaining funding gap—and no means to pay salaries beyond December 15—the court had little choice but to proceed with liquidation.

What This Means for the Industry

Groupe Brandt’s collapse is more than a corporate failure—it’s a symbolic blow to the European white goods sector. Once a pillar of French industrial pride, Brandt’s demise highlights the vulnerability of legacy manufacturers in a capital-intensive, globally competitive market.

For industry watchers, the case raises urgent questions:

– Can cooperative ownership models realistically rescue distressed manufacturers?
– What role should public funding play in safeguarding industrial heritage?
– And how can Europe retain its foothold in appliance production amid mounting global pressures?

As the dust settles, one thing is clear: the Brandt story will resonate far beyond France’s borders.

Whirlpool Invests R$3 Million in Advanced Training Hub in Brazil

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Whirlpool is investing R$3 million in a new advanced manufacturing training center at its Rio Claro plant in São Paulo, where it produces washers, stoves, ovens, and cooktops.

The “Factory of the Future” aims to deliver 6,000 hours of annual training through 2030 for employees and students from São Paulo State’s technical colleges (Fatecs), with the goal of boosting local manufacturing productivity by 50%.

Whirlpool employs 12,000 people in Brazil, including 3,000 in Rio Claro, and operates additional plants in Manaus and Joinville. Over the past five years, the company has invested R$1.3 billion in Brazil and $4 billion globally in R&D and capital expenditures. Currently, 97% of its products sold in Brazil are manufactured locally.

Middleby to Sell 51% Stake in Residential Kitchen Business to 26North in Transaction Valuing the Business at $885 Million

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The Middleby Corporation (NASDAQ: MIDD) has agreed to sell a 51% stake in its Residential Kitchen business to affiliates of 26North Partners LP, valuing the unit at $885 million. Middleby will retain a 49% non-controlling interest in the new joint venture, receiving approximately $540 million in cash and a $135 million seller note.

The Residential Kitchen portfolio includes premium brands such as Viking, AGA Rangemaster, La Cornue, Kamado Joe, Marvel, Novy, and U-Line. This move, alongside the planned spin-off of Middleby’s Food Processing segment in H1 2026, advances the company’s strategy to become a pure-play commercial foodservice leader.

With a sharpened focus, Middleby is positioned for accelerated growth through innovation and automation, offering a robust lineup of commercial kitchen solutions that enhance labor efficiency, reduce food costs, and expand into high-potential markets like ice and beverage.

The commercial foodservice business stands strong with 2024 revenue of $2.38 billion, $654 million in Adjusted EBITDA, and a margin exceeding 27%

Whirlpool Reshapes Global Footprint: Reduces Stake in India, Halts Production in Argentina

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Whirlpool Corporation is recalibrating its international operations with two major moves in India and Argentina, signaling a shift in its global appliance strategy.

📉 Stake in Whirlpool India Drops to 40%

On November 27, Whirlpool Corporation announced it had reduced its ownership in Whirlpool of India Limited from 51% to approximately 40%. The change follows the sale of 14.26 million equity shares by its wholly owned subsidiary, Whirlpool Mauritius Limited, in an on-market transaction.

While Whirlpool retains a significant minority stake, the move suggests a strategic realignment in one of Asia’s fastest-growing appliance markets. Whirlpool India remains a key player in refrigeration, laundry, and kitchen appliances, with a strong retail and service network across the subcontinent.

🛑 Production Ceases at Argentina’s Pilar Laundry Plant

Just a day earlier, on November 26, Whirlpool Argentina announced it will cease manufacturing operations at its Pilar Laundry Plant. Opened in 2022 with a $52 million investment, the facility was designed to produce 300,000 high-capacity washing machines annually and aimed to become Argentina’s largest appliance exporter—primarily serving Latin American markets like Brazil.

Despite the shutdown, Whirlpool confirmed it will maintain its commercial and after-sales service operations in Argentina, ensuring continued availability of products, accessories, and spare parts. The company emphasized its long-standing presence in the country, where it has operated for over 35 years.