Competition authorities in South Africa, Botswana and Namibia have approved Electrolux’s acquisition of Kwikot Group.
Electrolux in November 2016 announced its plan to buy Kwikot for an undisclosed amount.
Combined, the two companies form the largest water heater enterprise in the Middle East and Africa.
Electrolux on Thursday said the acquisition was “perfectly aligned with [its] strategy to drive profitable growth”.
It added that the acquisition would enable Electrolux to contribute to the development of South Africa as a regional hub bringing increased levels of industrialisation, manufacturing and exports.
Piet Malan has been appointed CEO of Electrolux Southern Africa.