Triton to sell OBH Nordica to Groupe SEB, a world leader in small domestic equipment
- Since Triton's acquisition, OBH Nordica has become the leading small domestic appliance ("SDA") brand in the Nordic region
- Groupe SEB's and OBH Nordica's operations are complementary and the combined business is expected to further enhance customer and consumer offerings in the Nordics
- The parties have agreed not to disclose the purchase price
Stockholm (Sweden), 9 July 2015 - Funds advised by Triton ("Triton") today announced the sale of the OBH Nordica group ("the Company"), owner of the leading small domestic appliance ("SDA") brand in the Nordic region, to Groupe SEB, a world leader in small domestic equipment. Groupe SEB will acquire 100% ownership of OBH Nordica group. The transaction is subject to approval from OBH Nordica's shareholders at an Extra General Meeting and the parties have agreed not to disclose the purchase price. Closing is expected on August 31, 2015.
Since Triton's acquisition in 2010, the management and board of OBH Nordica have executed a number of initiatives to improve the Company. This includes: the consolidation of all group functions into the Headquarter in Sundbyberg; the investment in a central warehouse in Finnerödja; an expansion of the China office and the investment in a new brand profile including a new website with an integrated web store. OBH Nordica is now the market leader in its core product categories with strong consumer brand awareness across the Nordic region.
The combined business, backed by Groupe SEB, is expected to have the right scale, expertise and resources to ensure OBH Nordica's future success in a dynamic environment.
"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", says Thierry de la Tour d'Artaise, Chairman & CEO of Groupe SEB.
"We would like to thank the management team, the employees and all other stakeholders for their contributions to OBH Nordica's development. Triton has been the owner of OBH Nordica for five years and we view this as an appropriate time for an ownership change to an industrial owner. OBH Nordica and Groupe SEB fit well together and the combined business should have a good future. We look forward to continuing our investment activity in the Nordics, acting as a responsible owner and an agent of positive change in the businesses we partner with," says Peder Prahl, Director of the General Partner to the Triton fund.
About OBH Nordica
OBH Nordica is the leading small domestic appliance brand in the Nordic region. The Company benefits from a leading market position in its core product categories and strong consumer brand awareness across the Nordic region. The current product offering includes c. 380 SKUs across the Kitchen, Personal care and Home care categories. The Company's activities cover product development, design, sourcing, sales and marketing. OBH Nordica was founded in 2002 through the merger of the Danish brand OBH and the Swedish brand Nordica but has a history dating back to the late 1950s. The Company employs c. 140 FTEs and is headquartered in Sundbyberg, just north of Stockholm, Sweden.
About Groupe SEB
The world leader in small domestic equipment, Groupe SEB operates in nearly 150 countries with a unique portfolio of top brands including Tefal, Rowenta, Moulinex, Krups, Lagostina, All-Clad, and Supor, marketed through multi-format retailing. Selling some 200 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and service to clients. Groupe SEB has nearly 25,800 employees worldwide.
The Triton funds invest in and support the positive development of medium-sized businesses headquartered in Northern Europe - with a focus on Germany, Switzerland, Austria and the four Nordic countries: Denmark, Finland, Norway and Sweden. Within this European region, Triton focuses on businesses in the Industrial, Business Services and Consumer/Health sectors.
Triton seeks to contribute to the building of better businesses for the longer term. Triton and its executives wish to be agents of positive change towards sustainable operational improvements and growth. The 28 companies currently in Triton's portfolio have combined sales of approximately 13.5 billion Euro and over 58,500 employees.
The Triton funds are advised by dedicated teams of investment professionals based in Germany, Sweden, the United Kingdom, Luxembourg and Jersey.
For further information: www.triton-partners.com