Groupe SEB acquires WMF
World leader in in small domestic appliances, Groupe SEB has acquired German housewares company WMF strengthening its global leadership
Groupe SEB has announced the signature of an agreement with KKR for the acquisition of the
German group WMF, the global leader in professional coffee machines and German leader in
Specialising in three product lines - professional coffee machines, small domestic equipment (cookware and small domestic appliances) and equipment for the hotel industry.- the WMF Group is now an undisputable world leader in the coffee market with a market share of 28 per cent, and in
cookware, where WMF is the clear leader in Germany, with 20 per cent of the market.
This structuring acquisition will allow the SEB Group to acquire a solid worldwide leadership in the very attractive professional coffee machines market, which is characterised by strong growth, high profitability and large recurring sales, due to a significant proportion of service activities; and also strengthen considerably its position in cookware.
In addition, the acquisition will allow SEB to consolidate its brand portfolio with strong new brands - the iconic WMF as well as Schaerer, Silit, Kaiser and HEPP; and to access a network of 200 own-retail shops in Germany.
Thierry de La Tour d’Artaise, Groupe SEB Chairman and CEO, says: “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. 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.”
The transaction value is €1,585 million.