Groupe SEB to Acquire Majority Interest in Imusa
ECULLY CEDEX, France--Global housewares giant Groupe SEB has acquired a majority interest in Imusa, the Colombian-based cookware company, following approval from Colombian competition authorities. Because Imusa is on the Bogota Stock Exchange, a delisting offer will be launched, according to a statement from Group SEB. Groupe SEB expects the transaction to be completed in February 2011, after the time allowed to comply with stock market regulations, and will then hold at least 94.17 percent of Imusa's capital.
Imusa's revenue was almost $85 million for the nine months ended September 31, 2010, an approximate increase of 15 percent over the prior-year period. Now 75 years old, Imusa has offices throughout North, Central and South America. Imusa USA is based in Doral, Fla., outside Miami.