F/D – The French group, SEB, that is well-known for kitchen appliance brands such as Tefal, Moulinex and Krups, is taking over the German cutlery and coffee machine manufacturer, WMF. According to own accounts, the manufacturer that was founded as the Société d’Emboutissage de Bourgogne in 1925 paid almost 1.6 bil. Euros for the German metal goods factory that has been in business since 1853. “We will merge our strong brands and further strengthen our position worldwide together,” announced SEB boss, Thierry de La Tour d’Artaise.
He added that the business with coffee machines is particularly attractive for restaurants and bakeries and that with a global market share of 28%, WMF is the “uncontested market leader” here. The sale, during the course of which the WMF Group is not to be broken up, but will remain intact after changing hands, still has to be approved by the cartel office. The deal is expected to be completed in the second half of the year. Up until then, WMF remains under the ownership of the US finance investor, KKR.