Business Intelligence on Retailing, Franchising, and Consumerism in China

Midea To Acquire Toshiba's White Goods Business

Chinese home appliances group Midea has signed a memorandum of understanding with Toshiba to acquire the white goods business of the Japanese company.

With this acquisition, Midea will gain the controlling interest of Toshiba's white goods business.

Midea and Toshiba have already maintained over 20 years of strategic cooperation in sectors like compressors, small appliances, and inverters. The acquisition of Toshiba's white goods business will be beneficial for Midea to realize its global operation strategy. By integrating the home appliances businesses of the two parties, Midea will be able to gain business scale and distribution channels in important marketplaces, including Japan and Southeast Asia. Meanwhile, the Chinese company will gain patent technology and branding support from Toshiba to further enhance its global operations and competitiveness.

Midea also revealed that issues related to the acquisition are still undergoing discussion and the official agreement is expected to be signed at the end of March 2016. Financial terms of the deal were not released.

Image Credit: Lucian Milasan

Be the first to comment on "Midea To Acquire Toshiba's White Goods Business"

Leave a comment

Your email address will not be published.


  Other China News


Chinese Electric Bus Manufacturer Lands USA Deal

American Electric Car Manufacturer To Build In China

U.S. Clean Water Company Makes Chinese Inroads

GE Will Promote Wind Power Through New Chinese Education Center

JD To Build Global Logistics Headquarters In Xi'an

Wumart, AGS Sign Agreement For Seafood Direct Procurement

India Gains Second Factory From China's Xiaomi

85% of Indian Staff To Lose Jobs At China's LeEco