Sabaf signs an agreement for the acquisition of Okida

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Sabaf S.p.A. signed a binding contract for the acquisition – also through its subsidiary Sabaf Beyaz Eşya Parçalari (Sabaf Turkey) – of 100% of the Turkish company Okida Elektronik Sanayi ve Ticaret Anonim Şirketi. Okida was founded in Istanbul in 1987 and designs, manufactures and sales electronic control boards, timers, display and power units for ovens, hoods, vacuum cleaners, refrigerators and freezers. Okida has about 80 employees (10 in R&D). “The acquisition of Okida – said Pietro Iotti, CEO of Sabaf – represents the first step towards the implementation of the Business Plan presented at the beginning of this year, in line with the strategy of expanding the range of products in components for household appliances and the acquisition of skills in the electronics sector. The combination of quality and innovation recognized in Okida and Sabaf’s widespread presence among all the main manufacturers of household appliances worldwide allows us to foresee strong sales synergies and an important improvement in the service provided to the customers”. With this step, Sabaf enters a new but also complementary sector, which will allow it to expand its product portfolio and to apply the electronics – which is becoming increasingly important – to the traditional gas cooking sector. All this will guarantee its customers to obtain new innovative products and solutions.

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