Swedish multinational appliance manufacturer Electrolux has acquired U.S.-based beverage systems and commercial coffee grinding and brewing manufacturer Grindmaster-Cecilware for $108 million USD in cash considerations.
Grindmaster and Cecilware merged in 2009 in a transaction led by majority owner BNY Mezzanine Partners L.P., and the Grindmaster-Cecilware company, headqurtered in Louisville, Ky., with an additional manufacturing facility in Rayong, Thailand, celebrated 100 years in manufacturing in 2011.
According to a press release issued by Elextrolux today, Grindmaster-Cecilware had net sales in excess of $65 million in 2016, while employing approximately 200 people.
While the company manufactures a range of foodservice products, coffee beverage systems have remained at the heart of the product line of both the Grindmaster and Cecilware brands over the past century. In 1963, Cecilware introduced the FE100, the first fully automatic electric coffee urn, and Grindmaster’s space-saving box-like retail grinders have been staples in grocery store coffee aisles since their introduction in the 1970s.
The company’s coffee-related products range from retail frozen drinks dispensers and powdered beverage dispensers to coffee brewers and grinders, hot water towers, urns and espresso grinders. Electrolux, meanwhile is one of the largest appliance manufacturers in the world in terms of units sold, with the majority of its brands residing in the home and kitchen appliance categories.
“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,” Head of Electrolux business area Professional Products Alberto Zanata said in the release. “This move will also reinforce our presence in North America, one of the largest global markets for professional appliances.”