Each brand has a well-defined identity, with a specific values which are reflected in the product offering, features and design, as well as in appropriate communication mechanics.
We remain convinced that our balanced business model, combining profitable growth and a resolutely responsible approach, creates value for all and plays a full part in our contribution to better living in households around the world.
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Groupe SEB is pleased to announce 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 cookware.
The WMF Group, which was founded in 1853, specialises in 3 product lines: professional coffee machines, small domestic equipment (cookware and small domestic appliances) and equipment for the hotel industry. Over the years, it has established solid positions:
The WMF Group posted revenue of €1.1 billion in 2015, up by 4.3% and an adjusted EBITDA at€118 million in 2015.
WMF has 8 production sites across the world: 4 in Germany, 1 in Switzerland, 1 in the Czech Republic, 1 in China and 1 in India. It has a multi-channel distribution strategy and notably a large company-owned retail network. It employs 5,700 people in 16 countries, of which 3,800 are in Germany.
This structuring acquisition will allow the Group to:
The deal will be submitted to the relevant competition authorities and is expected to be finalised before the enf of 2016.