18 Aug 2020
News & Information
EnergyAustralia to acquire Echo Group
Exciting news! EnergyAustralia plan to acquire 100% of Echo Group, trading as Cherry Energy Solutions. This reinforces Echo Group’s position as a reliable, long term and stable partner for each and every one of our customers.
Echo Group is excited to announce that EnergyAustralia plan to acquire 100% of the company, subject to Foreign Investment review board approval.
EnergyAustralia purchased a 49% share in Echo Group in July 2019 and recently made the decision to purchase the remaining shares to form part of EnergyAustralia’s commitment to offering customers affordable energy solutions. Echo Group will continue to operate independently under its current house of brands including Cherry Energy Solutions, eko energy and littil.
This is a great day for valued customers of both EnergyAustralia and Echo Group. Together, we will continue to offer businesses and households energy products and services that save them money and carbon emissions. This acquisition further reinforces Echo Group’s position as a reliable, long term stable partner for each and every one of our customers. There will be no disruption to how we work as a result of the acquisition.
Echo Group welcome EnergyAustralia as the 100% shareholder and look forward to enjoying continued success nationally as we work through current economic challenges and into the future.
You can find a copy of our press release here.