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Like Whirlpool and Maytag before them, former rivals Hoover and Dirt Devil will now find themselves jockeying for position on the same team.
Techtronic Industries (TTI), the Hong Kong-based parent of Dirt Devil, has acquired the century-old Hoover line for $107 million from Whirlpool.
Joe Galli Jr.,CEO of TTI's floor care appliances division, spoke to HCN after the merger was announced, saying the company is enthusiastic about invigorating the Hoover brand, concentrating on "innovations" and sales of products for popular hardwood floors and other hard surfaces.
TTI will remain committed to both Dirt Devil and Hoover brands, Galli said. Other TTI brands, however, are not in the company's immediate sights.
"Regina right now is a brand that we are not focused on," he said. "We use it tactically. Today we aren't going to disclose our intentions with that brand long term."
Galli also said the company "hadn't determined" what will happen with the various Hoover manufacturing facilities in the United States and Mexico, saying it was too early in the acquisition process.
Hoover was acquired by Maytag in 1989. In 2004, Hoover struggled with weak sales and was cited as a chief source of...