Groupe SEB to acquire OBH Nordica
Groupe SEB is pleased to announce that it has reached an agreement with funds advised by Triton to purchase 100% of shares of the OBH Nordica group, a leading player in the small domestic appliance (SDA) industry in Scandinavia. The closing is expected to take place at the end of August, which is the end of OBH Nordica’s fiscal year.
Founded in 2002 and headquartered in Sundbyberg, north of Stockholm, OBH Nordica markets a wide range of kitchen products (kitchen electrics and cookware), representing 80% of its revenue, as well as personal and home care appliances. Thanks to strong in-house innovation, the company enjoys top-ranking positions in the Nordic region, implementing a single brand strategy with high awareness in Sweden, Denmark, Finland and Norway. It has a solid foothold in all distribution channels, with access to some 4,200 points of sales.
OBH Nordica achieved SEK612m turnover in 2014 (approximately €65m) and has around 7% value market share in the Nordic SDA market. Already the leader in cookware in Scandinavia, Groupe SEB is a challenger in SDA in these countries and will thus leverage the acquisition of OBH Nordica to significantly strengthen its position in the market, reaching critical size, enhancing product dynamics and implementing synergies between both entities. The combination of both operations, which are complementary, will allow Groupe SEB to better serve its customers and end-consumers.
T. de La Tour d’Artaise, Chairman and CEO of Groupe SEB comments:“We are delighted to welcome OBH Nordica into Groupe SEB. OBH Nordica holds very strong market positions and enjoys an outstanding reputation and awareness which will allow us to reach our full potential in Scandinavia.”
For more information: www.obhnordica.com
Download the press release here.