Housewares Business-to-business magazine for housewares retailers and their suppliers
Groupe SEB,owner of the Tefal, Krups, Moulinex and Rowenta brands, is to acquire a majority interest in Colombia-based housewares manufacturer Imusa.
Imusa’s products comprise cookware, which accounts for two-thirds of its sales, as well as plastic food containers and household products. The company holds forefront positions in Colombia and has expanded its business to export markets, in particular other Latin American countries and the United States.
The company’s revenue for the nine months to September 30 2010 amounted to nearly US$85m – some 15% up on the equivalent 2009 period.
Groupe SEB expects to hold around 94% of the company’s capital, with the transaction completing in February 2011.
