Groupe SEB Acquires WMF
May 25, 2016,
ECULLY CEDEX, France—Housewares giant Groupe SEB has acquired WMF, the German coffeemaker, cookware and kitchen accessories company, from private equity firm KKR for approximately $1.76 billion.
The WMF Group specializes in professional coffeemakers, cookware and small domestic appliances, as well as products for the hotel industry. It is a leader in the global professional coffee market with a market share of 28 percent, far ahead of the number two spot, according to Groupe SEB; in Germany, WMF leads the cookware category with 20 percent of the market.
The purchase will allow Groupe SEB to solidify itself as a leader in the coffeemaker market. It will also strengthen its cookware position and make it the number one cookware brand in Germany. Besides the WMF brand, WMF, founded in 1853, also has the Schaerer, Silit, Kaiser and HEPP brands. Groupe SEB also plans to leverage the 200 retail shops that WMF runs in Germany.
“Thanks to our close, trusting and collaborative relationship with the management team, we were able to set the course for a successful future for WMF Group,” said Philip Wack, director of the KKR industrial investment team in Europe and Johannes Huth, head of KKR in Europe, Middle East and Africa. “The company is now well positioned to continue to deliver on its strategic development plan together with Groupe SEB.”
WMF has eight production sites worldwide: four in Germany and one each in Switzerland, the Czech Republic, China and India. It employs 5,700 people in 16 countries, of which 3,800 are in Germany.
WMF joins a portfolio of brands that includes All-Clad, Rowenta, Krups, T-fal and Imusa.