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Groupe SEB continues to strengthen its positions in the professional market with the acquisition of Zummo, the Spanish world leading maker of automatic fruit juice extraction machines. The professional offering of Groupe SEB is being expanded to meet its strong development ambitions in this segment. Numerous synergies will be created in this way for all of Groupe SEB customers: hotels, major restaurant brands and local businesses, in France and throughout the world.
A Spanish group founded in Valencia, Zummo began operations in 1992 with the target of creating the perfect fresh fruit juice and is now the world leader in the design, manufacture and distribution of automatic juicing machines for fresh fruit and vegetables. As a result of the technologies it has developed over time, Zummo has a significant competitive advantage in an extremely dynamic market.
Before being acquired by Groupe SEB, Zummo was 93% held by Meridia Private Equity I, managed by Meridia Capital Partners, and 7% held by Olmina Valencia, owned by Zummo’s founder, Rafael Olmos, who managed the company for 30 years and is also Chairman of HOSTELCO.
Thierry de La Tour d’Artaise, Chairman of Groupe SEB, said:
We are delighted to have acquired Zummo, as the acquisition will allow Groupe SEB to accelerate the development of its professional business, a fast-growing and profitable market. These products closely complement our Professional Coffee business, and will create a true ecosystem for our customers in this sector. The Group extends a warm welcome to Zummo’s impressive management team and its 130 skilled employees. We are going to capitalize on Zummo’s recognized expertise and will together seek to achieve our aims in the professional sector.”
In 2021, professional business accounted for 8% of Groupe SEB’s revenue, at €628 million.
Professional Coffee represents 90% of sales in the segment, via automatic espresso machines or the professional preparation of filter coffee. Groupe SEB also has a Hotel division and its Krampouz subsidiary is a world leader in professional crêpe makers and griddles.
About Zummo: - Founded in Spain in 1992 - Operates in more than 100 countries worldwide with a strong international distribution network - 130 employees, 15% of whom work in R&D - Revenue of around €25 million in 2021 - Offices, a showroom, warehouses and a manufacturing site based in Valencia, Spain - A large machinery range with more than 10 product categories: professional catering citrus presses, juice extractors, automatic distributors, centrifuges, etc. for all types of fruit.
About Meridia Capital: Meridia Capital Partners is a leading alternatives fund manager investing in private markets in Spain with over 1 billion euros of assets under management and advisory. Throughout the firm’s more than 15 years of experience and various vehicles, Meridia has consistently outperformed market returns for its investor base, which includes some of the world’s largest and most noteworthy institutional groups. In 2016 Meridia Capital launched Meridia Private Equity I, a 105-million-euro fund that target companies headquartered in Spain.
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