European Commission Clears SEB to Acquire German Coffee Machine Makr WMF in EUR 1.02bn Deal.
MANews-(C)2009-2016
23 November 2016 - French domestic equipment maker Groupe SEB (PAR: SK) has received unconditional clearance from the European Commission for the acquisition of German coffee machine maker WMF, the group said.
The EUR 1.02bn (USD 1.08bn) deal, which was announced in May, should close within the next ten days.
WMF, or Wuerttembergische Metallwarenfabrik, manufactures coffee machines for commercial customers and cutlery, pots and pans for retail consumers.
KKR acquired a controlling stake in WMF in 2012.
Groupe SEB operates in nearly 150 countries with a unique portfolio of top brands including Tefal, Rowenta, Moulinex, Krups, Lagostina, All-Clad, and Supor, marketed through multi-format retailing.
Selling some 250m products...
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