Global manufacturer and supplier AB Electrolux has announced that it is preparing for the separation of its Professional products business area from the group.
In news released last week, the Electrolux board of directors told of work that had commenced to split the group into two listed companies, "Electrolux" for household appliances and "Electrolux Professional" for professional appliances, and to distribute Electrolux Professional to the shareholders of AB Electrolux in 2020.
The Electrolux board of directors are said to believe that such a split has the potential to create substantial shareholder value over time, given that the two businesses have different end markets, customers and success drivers. A split will enable both companies to focus on their respective opportunities to drive profitable growth, with distinct strategies for innovation and customer focus, as well as a high level of capital efficiency.
Darren Lockley, head of region UK and Ireland at Electrolux Professional, commented: "Subject to shareholder approval, the separation of Electrolux Professional from the Electrolux Group will allow us to focus our efforts on growth in the professional arena without being beholden to the interests of a consumer-driven brand. As such, we see the decoupling as a major positive for our customers, who can expect to see us commit to even greater levels of innovation and growth within both established emerging commercial markets."
The first two campaigns for the company's foodservice division, which go live during Q1, are focusing on Electrolux Professional's high-efficiency range of green&clean dishwashers, and its thermaline ProThermatic range of boiling and braising pans.
Lockley added: "Without our distribution partner network, we simply wouldn't exist as a business. As such, we place a great importance on their feedback. Following our partner survey in 2018, the overriding sentiment was for more leads, so we have responded with the creation of our dedicated sales development team.
"The team will follow a structured approach, focusing on outbound calling and generating new business meetings for our area sales managers and in turn, our partner network. Ultimately, the investment in this new department underlines the value we place on our partners, and our desire to develop mutually beneficial opportunities for all involved."Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).