Electrolux and AIESEC today announced a joint initiative to mobilize youth for global volunteering projects in communities around the world, in support of the UN Sustainable Development Goal number 12, Responsible consumption and production.Read more
Electrolux strengthens professional offering of beverage products by acquiring Grindmaster-Cecilware
Electrolux today announced it has acquired Grindmaster-Cecilware, a leading U.S. based manufacturer of hot, cold and frozen beverage dispensing equipment, including coffee machines. The acquisition broadens Electrolux offering in its food service business and will accelerate the growth of the Professional Products business area by increasing access to the U.S. market.
Grindmaster-Cecilware had net sales in excess of USD 65 million in 2016 and approximately 200 employees. The cash consideration in the transaction is USD 108 million. The company is based in Louisville, Kentucky and has manufacturing facilities in Louisville and in Rayong, Thailand. Grindmaster-Cecilware sells products under the market leading brands Grindmaster, Cecilware, Crathco, and American Metal Ware.
“We are very pleased to complement our portfolio with such an attractive range of beverage products, as the combination better meets customer needs, especially among food service chains. This move will also reinforce our presence in North America, one of the largest global markets for professional appliances,” said Alberto Zanata, Head of Electrolux business area Professional Products.
Grindmaster-Cecilware, majority owned by BNY Mezzanine Partners L.P., was created in 2009 through the combination of Grindmaster Corporation and Cecilware Corporation, two companies with a more than 100-year heritage.
For further information, please contact
Electrolux Press Hotline, 46 8 657 65 07.
|Press releases – Electrolux strengthens professional offering of beverage products by acquiring Grindmaster-Cecilware March 2, 2017 - Language: English||March 2, 2017||English|
Topics and categories
Read more within Newsroom
Electrolux Major Appliances EMEA today announced a strategic partnership with Innit, a Silicon Valley-based eating technology company. Electrolux products will work seamlessly with Innit’s platform to help consumers throughout the cooking journey, from inspiration...Read more
The Electrolux Group announced today it has set two new ambitious targets to reduce greenhouse gas emissions in support of the Paris climate agreement. Both have been approved by the Science Based Targets initiative,...Read more