Far from strangers, Groupe SEB set up a 75%-controlled joint venture with Zahran Group back in 2013. Christened Groupe SEB Egypt, the company initially produced and sold small electrical appliances, including blenders and small food processors, primarily under the Moulinex and Tefal brands, with great success.
With a view to strengthening that collaboration, Groupe SEB and the Zahran family have now decided to form a new entity, Groupe SEB Egypt Zahran, owned 55% by Groupe SEB and 45% by Zahran. This new company unites the two business activities – small electrical appliances and cookware – intending to secure their foundation in Egypt for domestic and export trade.
Groupe SEB is a large French consortium that produces small appliances under such brands as All-Clad, Krups, Moulinex, Rowenta, and WMF Group. Their revenue in Egypt for 2017 totalled around €20 million EUR.
Zahran is the leading cookware manufacturer in Egypt. It has two industrial sites and 11 Zahran-branded stores, employing over 700 people. Since 1973, it has been manufacturing and marketing cookware under the Tefal and Zahran brands in Egypt.
The transaction, subject to the approval of the Egyptian regulatory authorities, is expected to be finalised in the second quarter of 2018.
Groupe Seb | groupeseb.com