Groupe SEB has acquired WMF, a German cookware and coffeemaker manufacturer, from private equity firm KKR for $1.14 billion. In addition, Groupe SEB said it signed an agreement to acquire the Emsa kitchenware company.
According to Group SEB, the purchase of WMF will allow the company to acquire a solid leadership in the professional coffee machines market; strengthen its position in the cookware segment; accelerate its development in the key market of kitchen utensils and accessories; consolidate its brand portfolio with strong new brands; and access a network of 200 own-retail shops in Germany.
“The acquisition of WMF is a new structuring step in our development. It allows us to significantly reinforce our positions in small domestic equipment in Germany and add very strong brands to our portfolio. Furthermore, it is a fantastic opportunity to become a leading player in the very attractive professional coffee machine market and to capitalize on WMF’s cutting-edge technologies to enrich our small domestic equipment product offering,” said Thierry de La Tour d’Artaise, Groupe SEB chairman and CEO.
WMF, founded in 1853, specializes in three product lines: professional coffee machines, small domestic equipment such as cookware and small domestic appliances; and equipment for the hotel industry. The purchase is expected to close in the second half of this year.
“We have high respect for this great company with which we share culture and values, based on a passion for products and an obsession for excellence. These assets will support our ambitious value creation projects and will guarantee the smooth integration of WMF’s teams, whom I would like to cheerfully welcome to Groupe SEB,” de La Tour d’Artaise added.
In addition, last week, Groupe SEB said it signed an agreement to acquire the Emsa company. The company said the deal should be finalized in the coming weeks upon approval of German and Austrian competition authorities.
German-based Emsa designs, manufactures and sells kitchen tools and accessories. The company’s core business is focused on three categories: thermo jugs and carafes; kitchen utensils; and food storage containers. Production is carried out at three industrial sites in Germany, China and Vietnam.
“The acquisition of Emsa constitutes a strong strategic advantage for our continued development in the buoyant market of kitchen utensils and accessories. The combination of Emsa’s expertise and Groupe SEB’s worldwide presence will enable us to roll out products on an international base and to extend the range, which will boost sales growth. As such, we are delighted to welcome Emsa’s teams into Groupe SEB,” said de La Tour d’Artaise.