IKEAS Laundromat, the world’s largest brand of household items, has been offered a $7 million buyout by IKEAA.
The deal will close in the second quarter of 2018, according to IKEAFiles.com.
The company announced the sale in a press release.IKEA said it is continuing to invest heavily in its brand and is excited to partner with IKEATex for this sale.
The agreement will benefit IKEAs customers by enabling the brand to continue to grow while also ensuring its brand will remain a part of the IKEAWorld marketplace for years to come.
The brand will continue to be available in IKEACountains.com and in IKEYeam.com, as well as on Amazon, Best Buy and Walmart.com in select countries.
The purchase price is based on an estimated value of $50 million.