Listed Groupe SEB acquires WMF Group. The closing of the transaction is subject to merger control clearance. Groupe SEB will pay EUR 1,020 million in cash for the WMF Group and assume net debt in an amount of EUR 565 million. In addition, SEB takes over EUR 125 million of early retirement and pension liabilities.
WMF is a manufacturer of home appliances and hotel equipment, amongst others, cookware, kitchenware, cutlery, drinking glasses and professional coffee machines, including brands such as WMF, Silit, Kaiser, Schaerer and Hepp. The company, headquartered in Geislingen an der Steige, Germany, is represented in over 40 locations worldwide and operates nearly 200 retail shops in Germany, Austria and Switzerland.
French Groupe SEB is a manufacturer of small appliances and kitchenware and is represented in over 120 countries worldwide. The group owns more than 1,000 active patents and launches over 200 new products a year. Brands include Tefal, Rowenta, Krups, Calor, Vogalu, Moulinex and Lagostina. The holding company SEB S.A. is listed in Paris and headquartered in Écully close to Lyon.
Walder Wyss acts as Swiss legal advisor to Groupe SEB. The team is being led by Urs P. Gnos (Partner, Corporate/M&A) together with Simon Kehl (Managing Associate, Corporate/M&A) and further includes Samuel Lieberherr (Associate, Corporate/M&A), Boris Räber (Associate, Corporate/M&A), Andrea Voelin (Associate, Corporate/M&A), Simone Wetzstein (Associate, Employment), Samuel Klaus (Associate, IP/IT), Martin Zobl (Associate, IP/IT), Janine Corti (Associate, Tax) and Valentin Wiesner (Trainee, Corporate/M&A). Gleiss Lutz acted as lead counsel on the deal, coordinating several other law firms in multiple jurisdictions.