The SEB Group announced the acquisition of 100% of the operations of Wilbur Curtis, the number two manufacturer of professional coffee machines in the United States of America.
The transaction, which is subject to usual regulatory approvals, is expected to be completed in February.
Founded in 1941, Wilbur Curtis manufactures and sells hot and cold beverage preparation equipment, primarily filter coffee and cappuccino machines. Similarly, its investments, mainly in innovation, allow it to offer one of the most advanced product ranges on the market.
Sales are growing.
Wilbur Curtis' sales total more than $90 million and are primarily made in the United States. Its main clients are coffee roasters, coffee shops, convenience stores, fast-food chains, hotels, and restaurants.
Wilbur Curtis has long-term relationships with its customers and relies on an experienced sales force to provide nationwide coverage. Its manufacturing facilities employ 300 people in Montebello, California.
This operation will be financed with debt, and the group will utilize existing credit lines.
