Electrolux to acquire French service provider La Compagnie du SAV (CSAV)

STOCKHOLM,July 8,2021 -- With the acquisition Electrolux,a leading global appliance company,strengthens its service network in France and underlines its commitment to drive circularity and the repairability of appliances.

Electrolux today announced it has agreed to acquire La Compagnie du SAV (CSAV),the main French independent service provider (ISP) specialized in repairing domestic appliances. The acquisition is fully in line with the Electrolux Group strategy to offer outstanding experiences to consumers,ensuring they get the most out of their appliances during the complete lifecycle of the product.

"With this acquisition we further strengthen our service network in France allowing us to meet the growing market demand in the after-sales service area in the best possible way. I'm confident that this in turn will elevate consumer satisfaction and brand loyalty to a new level",said Chris Braam,Senior Vice President Sales & Services Electrolux in Europe.

The acquisition also underlines the strong commitment of Electrolux to drive circularity and the repairability of appliances. The transition towards a circular economy is a key project of the French government and a fundamental part of the European Green Deal. The European Green Deal is a set of policy initiatives by the European Commission with the overarching aim of making Europe climate neutral by 2050.

"Our ambition as a global leader in sustainability is to maximize the life of our appliances while offering consumers dedicated,high-quality and fast-responding services whenever they need it. This acquisition is an important step in our service strategy and our commitment to drive the circularity of our products",explained Pierre Perron,CEO of Electrolux France. "La Compagnie du SAV is a well-established company in the market,and we are very happy to welcome our new colleagues to the Electrolux family",he added.

CSAV will be part of the Electrolux Group as from July 8th,2021 but will continue to fully operate as an independent entity,offering multi-brand services. In a fragmented market,CSAV is a leading French service provider that covers the entire country,offering to consumers comprehensive,integrated,and innovative support and repair services. With almost two million appliances repaired and serviced since 2012,CSAV draws on extensive experience in the field of domestic appliances. The company is headquartered in Lisses,south of Paris,and employs around 200 people. Net sales in 2020 amounted to around EUR 25 million.

Laurent Falconieri,Managing Director of CSAV,added: "We are looking forward to become part of the Electrolux Group. The acquisition offers CSAV great opportunities to continue growing in the after-sales service business. It is also a strong recognition of our teams and expertise in delivering high-quality services. We are convinced that we will make lasting contributions to Electrolux's ambition in the field of circularity and repairability of appliances and I am proud for all employees who are part of our company".

CONTACT:

For further information,please contact Electrolux Press Hotline,+46 8657 6507.

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