Swedish home appliance maker Electolux announced that it has acquired Grindmaster-Cecilware, a leading U.S.-based manufacturer of hot, cold, and frozen beverage dispensing equipment, including coffee machines.
Electolux looks to broaden its offerings in the food service business with the acquisition valued at $108 million. Grindmaster-Cecilware, which has around 200 employees and is based in Louisville, Kentucky, had sales of more than $65 million last year.
“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,” says Alberto Zanata, Head of Electrolux business area Professional Products.