Making a difference in people’s everyday lives is all part of the job for Cosimo Scarano. Working with corporate social responsibility, he helps people in Curitiba, Brazil, change their lives for the better by...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 will set a provision of approximately MSEK 550, in connection to a previously communicated investigation by the French Competition Authority. The provision will affect the Group’s operating profit in the second quarter of...Read more
On June 11-12, close to 300 leaders, innovators and startups in the food tech community convened to explore the latest technology within the food ecosystem, when the first-ever Smart Kitchen Summit Europe took place...Read more