Gorenje seeks strategic partner

Slovenian appliance manufacturer Gorenje has revealed it is seeking a buyer for the business.

The company said it was looking for a “suitable partner and potential shareholder” for the business after seeing 12 per cent profit growth in the first nine months of 2017.

It hopes to have a buyer in place by the third quarter of 2018.

Net profits rose to €4.6 million (£4m), while sales increased by five per cent sales to €944m.

Gorenje said it hoped the “new partnership” would assist with the improvement of cost efficiency and help to strengthen the company.

Iztok Krulc (pictured), managing director at Gorenje UK, said: “While the cost of raw materials has continued to rise, we’ve had a successful year and are keen to build on that with this collaboration.

“The business is built on strong foundations and a rich heritage, and is something we want to continue in order to take Gorenje to the next level.”

The company attributed some of the growth to more customers replacing their kitchen appliances to make way for newer, energy-efficient models.

He added: “People are wanting to save money on running costs or boost their green credentials, and are becoming increasingly aware of how impactful highly-rated appliances can be.

“We have always prioritised energy efficiency and it’ll certainly continue to be at the top of the agenda for production during 2018.”