WMF Group has sold alfi to Thermos
The WMF Group (“WMF”) has sold 100% of the shares in its subsidiary alfi GmbH Isoliergefäße, Metall- und Haushaltswaren (“alfi”), based in Wertheim, Germany, to Japanese Thermos KK (“Thermos”), a subsidiary of Taiyo Nippon Sanso Corporation. The parties agreed not to disclose any details of the transaction.
alfi, founded in 1914 by the Zitzmann family, is the leading German provider of premium vacuum carafes and drinking bottles, addressing domestic and international private as well as institutional customers with highest demands regarding quality, design and longevity of the products. The Company has a long-standing tradition of design competence developing several design classics by cooperating with well-known designers. Taking advantage of its outstanding brand awareness, the Company offers a wide product portfolio of premium vacuum containers made of various materials including metal and plastic covering both the tabletop and outdoor segments. In 2013, alfi generated revenues of Euro 26 million with an export share of approximately one-third. The Company has been a 100% subsidiary of the WMF Group since 1987.
While alfi’s products will continue to be available at WMF stores throughout Europe, Thermos will support alfi’s international expansion, especially of alfi’s high-quality products “Made in Germany” in the Asian market and take advantage of alfi’s distribution presence in Europe to increase sales of alfi and Thermos products.
WMF is one of the leading premium manufacturers of cutlery, tableware and kitchen products as well as professional coffee machines. It offers its customers high-quality, innovative products that are distinguished by their sophisticated design and outstanding functionality. WMF was founded in 1953 in Geislingen an der Steige, Germany and now operates on an international scale with more than 6,000 employees at more than 40 locations worldwide, generating sales of approximately Euro 1.0 billion in 2013. The Company has been a KKR portfolio company since 2012.
Thermos is a global manufacturer of an expanding range of innovative portable food and beverage containers that provide a more comfortable, enjoyable eating and drinking experience for people on the go. The company’s origin goes back to 1904, when Thermos manufactured the first vacuum bottle in Berlin, Germany. Thermos has been a subsidiary of Japanese Tayio Nippon Sanso Corporation since 1989.
Lincoln International acted as exclusive M&A advisor to the WMF Group and its private equity investor KKR for this transaction.
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