Strauss Enters Water Venture With Haier Group

June 8, 2015 | The subsidiary of the Israeli food and beverage company Strauss Group announced that it will expand its joint venture with China’s Haier Group for water purification technology. The new joint venture will be called Qingdao HSW Health Water Appliance Co., in which Strauss will have a 34 percent stake and Haier Group a 66 percent stake. Strauss will pay approximately $8 million for its stake in the company with an option to purchase an additional 15 percent in 2017. Strauss Group was founded in 1933 by Richard Strauss.