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.
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 more information visit www.electrolux.com/professional and www.gmcw.com.
- Electrolux Professional: John Evans, Head of EPR NA, +1 9376092964 john.evans@electrolux.com
- Electrolux Professional: Alberto Zanata, CEO, +39 0434 380210
Alberto.zanata@electrolux.com
- Electrolux Professional Communications: Ingrid Yllmark, +46 0708 655900 ingrid.yllmark@electrolux.com
| Electrolux Professional 10200 David Taylor Drive Charlotte, NC 28262 USA 866-449-4200 phone www.electroluxusa.com/professional |
About Electrolux Professional
Electrolux Professional, part of the Electrolux Group, offers food service and laundry solutions for professional users. Our smart products and worldwide service network make customers’ work life easier and more profitable. With eight manufacturing plants and 10,000 service technicians in over 140 countries, we conduct our business in a sustainable way. In 2016, Electrolux Professional had sales of USD 800 million (SEK 6,9 bn) and 2,700 employees. For more information go to www.electrolux.com/professional
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