Electrolux: buys Italian ice-cream machine maker
(CercleFinance.com) - Swedish home appliance maker Electrolux said on Tuesday that it is buying the Italian firm SPM Drink Systems, a maker of professional dispensers of frozen beverages and ice-cream, for an undisclosed amount.
SPM Drink Systems, which is based in Spilamberto, Modena, generated net sales of approximately 30 million euros last year and has about 110 employees.
Electrolux said the move is part of its strategy to increase its presence in the hospitality industry.
The portfolio of SPM Drink Systems will enable the group to become a "full service solution provider," it pointed out, by expanding its current beverage offering.
Together with the 2017 acquisition of coffee machine maker Grindmaster-Cecilware in North America, it also strengthens its presence in the fast-growing beverage segment, Electrolux said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.
SPM Drink Systems, which is based in Spilamberto, Modena, generated net sales of approximately 30 million euros last year and has about 110 employees.
Electrolux said the move is part of its strategy to increase its presence in the hospitality industry.
The portfolio of SPM Drink Systems will enable the group to become a "full service solution provider," it pointed out, by expanding its current beverage offering.
Together with the 2017 acquisition of coffee machine maker Grindmaster-Cecilware in North America, it also strengthens its presence in the fast-growing beverage segment, Electrolux said.
Copyright (c) 2018 CercleFinance.com. All rights reserved.