French producer of small appliances, Groupe SEB has announce the acquisition of American manufacturer of professional coffee equipment Wilbur Curtis. The transaction is subject to customary regulatory clearances and is expected to be finalized in February 2019.
Founded in 1941, Wilbur Curtis manufactures and markets equipment for the preparation of hot and cold beverages, mainly filter coffee and cappuccino machines.
Wilbur Curtis’ major customers include coffee roasters, specialty coffee retailers, convenience stores, fast-food chains, hotels and restaurants. Its production facility located in Montebello, California, employs 300 people.
Thierry de La Tour d’Artaise, Chairman and CEO of Groupe SEB stated, “Following the acquisition of WMF in 2016, Groupe SEB confirms its determination to pursue expansion in the professional coffee industry, which offers great development opportunities worldwide. As a specialist in filter coffee machines in the United States, Wilbur Curtis represents for the Group -that is already present on this market with Schaerer and WMF full-automatic espresso machines- a very valuable strategic complement to its product offering and customer portfolio. As a result, Groupe SEB becomes one of the leaders in the professional coffee business in the United States.”
As with past acquisitions, the transaction will be debt-financed and the Group will use existing credit lines.