Regulatory News:
Groupe SEB (Paris:SK) is glad to announce the acquisition of Wilbur Curtis, the second largest American manufacturer of professional coffee equipment. The transaction is subject to customary regulatory clearances and is expected to be finalized in February 2019.
Founded in 1941, Wilbur Curtis manufactures and markets equipment for the preparation of hot and cold beverages, mainly filter coffee and cappuccino machines. Sustained investment and a continuous commitment to innovation have enabled Wilbur Curtis to offer many of the US market's best-in-class product offerings.
Wilbur Curtis' sales have been increasing steadily, amounting to more than $90M, primarily in the US. Major customers include coffee roasters, specialty coffee retailers, convenience stores, fast-food chains, hotels and restaurants. Wilbur Curtis has built and maintains a long-term relationship with its customers, leveraging its professional salesforce and ensuring extensive national coverage. Its high-performance production facility located in Montebello, California, employs 300 people.
Thierry de La Tour d'Artaise, Chairman and CEO of Groupe SEB stated
« Following the acquisition of WMF in 2016, Groupe SEB confirms its determination to pursue expansion in the professional coffee industry, which offers great development opportunities worldwide. As a specialist in filter coffee machines in the United States, Wilbur Curtis represents for the Group -that is already present on this market with Schaerer and WMF full-automatic espresso machines- a very valuable strategic complement to its product offering and customer portfolio. As a result, Groupe SEB becomes one of the leaders in the professional coffee business in the United States.»
As with past acquisitions, the transaction will be debt-financed and the Group will use existing credit lines.
www.wilburcurtis.com
Upcoming events 2019 | ||||
January 23 | after market closes | Provisional 2018 sales | |||
February 28 | before market opens | 2018 sales and results | |||
April 25 | after market closes | Q1 2019 sales and financial data | |||
May 22 2:30 pm | Annual General Meeting | |||
July 24 before market opens | H1 2019 sales and results | |||
October 24 after market closes | 9-month 2019 sales and financial data | |||
Find us on www.groupeseb.com
The world reference in small domestic equipment, Groupe SEB has a unique portfolio of top brands including Tefal, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, EMSA and Supor, marketed through multi-format retailing. Selling some 300 million products a year, it implements a long-term strategy focused on innovation, international development, competitiveness and service to clients. Groupe SEB operates in nearly 150 countries and has around 33,000 employees worldwide.
SEB SA
SEB SA N° RCS 300 349 636 RCS LYON capital 50 169 049 TVA intracommunautaire FR 12300349636
View source version on businesswire.com: https://www.businesswire.com/news/home/20190108005952/en/
Contacts:
Groupe SEB
Financial Communication
and Investor Relations Dept
Isabelle Posth & Raphaël Hoffstetter
Tél.: +33 (0) 4 72 18 16 40
comfin@groupeseb.com
Groupe SEB
Corporate Communication Dept
Cathy Pianon Anissa Djaadi
Tél.: +33 (0) 4 72 18 17 20
com@groupeseb.com
Image Sept
Caroline Simon
Claire Doligez
Isabelle Dunoyer de Segonzac
Tél.: +33 (0) 1 53 70 74 70
seb@image7.fr