03 Mar '17, 7pm

Electrolux Acquires Grindmaster-Cecilware for $108 Million

Electrolux Acquires Grindmaster-Cecilware for $108 Million

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...

Full article: http://dailycoffeenews.com/2017/03/03/electrolux-acquires...

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