A. O. Smith to acquire Pureit water purification business from Unilever for ~$120M cash

SMITH A O CORP

Purchase price ~$120M in cash, subject to customary adjustments.
Pureit has annual sales of ~$60M, primarily in India, with residential water purification solutions.
Expected close by end of 2024; no material EPS impact expected in first year.
Acquisition will double A. O. Smith's market penetration in South Asia and enhance premium product portfolio.
Further details on acquisition will be provided in Q2 earnings call on July 23, 2024.

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