WMF, a maker of coffee machines and premium kitchenware, from private equity group KKR & Co. in a deal valued at around EUR1.6 billion ($1.8 billion), WMF is the owner of German flatware brand Hepp. SEB said late Monday, its second German acquisition this month.
SEB will pay EUR1.02 billion for the upmarket cookware and appliance maker, assuming about EUR565 million in debt and EUR125 million in retirement liabilities, SEB said. The deal will be financed with debt.
Investors welcomed the deal, which brings a number of well-known European brands under one roof. SEB shares were up 11.8% at EUR119.10 on Tuesday. WMF is not listed.
