Electrolux acquires drinks-machine manufacturer
Electrolux today announced it had acquired Grindmaster-Cecilware, a leading US-based manufacturer of hot, cold and frozen beverage dispensing equipment, including coffee machines. The acquisition broadens Electrolux's scope in its food service business and will accelerate its growth in the professional products sector.
Grindmaster-Cecilware had net sales in excess of US$65 million in 2016 and approximately 200 employees. The cash consideration in the transaction is $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 LP, was created in 2009 through the combination of Grindmaster Corporation and Cecilware Corporation.
