Electrolux Professional has taken a giant leap into the commercial beverage dispensing market by agreeing a $108m (£89m) takeover of Grindmaster-Cecilware.
The US-based outfit, which made sales of $65m (£89m) last year and employs 200 staff, specialises in hot, cold and frozen beverage dispensing equipment, including coffee machines.
Electrolux said the acquisition primarily broadens its foodservice offering and increases access to the US market.
The company is based in Louisville, Kentucky and has manufacturing facilities in Louisville and in Rayong, Thailand. It sells products under the Grindmaster, Cecilware, Crathco and American Metal Ware brands. As well as beverage equipment, the company sells a wide range of commercial cooking appliances.
“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 foodservice 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 Professional Products.
Grindmaster-Cecilware was created in 2009 through the combination of Grindmaster Corporation and Cecilware Corporation, two companies with a more than 100-year heritage. Electrolux is buying the business BNY Mezzanine Partners L.P, which majority-owns the company.
News of the acquisition comes as Electrolux yesterday launched a series of updated cooking, refrigeration and warewashing products that will be available to the UK market in the coming months.
Asked by FEJ at the launch whether Grindmaster-Cecilware products will become available to customers in the UK, head of region Darren Lockley understandably said it was too early to comment given the announcement has only just been made.
“If you look at the type of acquisition, it is clearly there to increase the product portfolio,” he said. “What the plans are, and the roll-out of that to other regions, I don’t know at this stage. But obviously it shows an intention and I think at some point we will see that slowly filtering through to other countries. It’s just too early to talk about any timescale on that.”
Full details on Electrolux’s new range of refrigeration, cooking and warewashing equipment can be found HERE.