With plans to accelerate global expansion.
Zip Industries, the leading supplier of instant drinking water appliances, today announced that it will join forces with Culligan International. Culligan has reached an agreement to acquire 100% of Zip for an undisclosed sum. The deal is expected to complete in August 2017.
Zip has been manufacturing and marketing Australian designed instant boiling water appliances and filtered drinking water systems in Sydney’s western suburbs since 1947. The company is focused on the delivery of instant, boiling, chilled and sparkling drinking water appliances in an environmentally friendly way. Zip employs some 700 people and Zip appliances are installed in over 76 countries across the globe.
Zip CEO, John Doumani (pictured below) said, “We are delighted to have been recognized by Culligan as a true Australian success story and an innovator in the global market for boiling, chilled and sparkling instant drinking water appliances.
“Our innovation program over recent years has seen the successful launch of products such as the Zip HydroTap G4, the Design Range and the recent introduction of our Celsius All-in-One product. This is a new multi-functional HydroTap that can dispense instant filtered boiling, chilled and sparkling water, together with normal hot and cold water, all from one elegant arc shaped tap. We look forward to continuing to drive innovation behind water quality, enhanced functionality, energy efficiency and aesthetic appeal with the strong support of the Culligan team.
“Furthermore, we are very excited at the prospect of accelerating the global expansion of Zip HydroTap by being part of Culligan, an iconic quality water business with a strong presence across North America, Latin America, Europe, Middle East and Asia.
“Importantly, Culligan will support the continued manufacture of Zip appliances from our headquarters in Sydney’s western suburbs, recognising the heritage of our company and the importance of Condell Park as a hub for innovation, design and world-class manufacturing.”
Culligan is a global leader in residential, office, commercial and industrial water treatment with more than 800 Culligan dealers in over 90 countries. Zip’s business operations and footprint (focused on Australia, New Zealand and the UK) are complementary to Culligan’s global footprint.
Culligan International president and CEO, Scott Clawson said, “We’re thrilled to bring Zip into the Culligan team. I believe these businesses are a great fit with a shared focus on water purity, convenience, technology and innovation. By working together, we look forward to exploring opportunities to expand Zip’s product range, particularly HydroTap, into new markets internationally.”
Zip founder and shareholder, Michael Crouch said, “It is very exciting that Australian technical expertise, product design, and manufacturing abilities can have access to more international markets; and particularly heartening that Zip will maintain its manufacturing hub in Australia.”