The Electrolux logo is seen during the IFA Electronics show in Berlin, Germany September 4, 2014. REUTERS/Hannibal Hanschke/File Photo

To strengthen professional offering.

Electrolux has acquired Grindmaster-Cecilware, a┬áleading US-based manufacturer of hot, cold and frozen beverage dispensing equipment, including coffee machines. The acquisition broadens the company’s offering in its food service business and will accelerate growth in the professional business area.

Photo: REUTERS/Hannibal Hanschke

The cash consideration in the transaction is USD 108 million ($142 million). Grindmaster-Cecilware is based in Louisville, Kentucky and has manufacturing facilities in Louisville and Rayong in Thailand. It sells products under Grindmaster, Cecilware, Crathco and American Metal Ware brands.

Commenting on the acquisition, Electrolux head of professional products, Alberto Zanata said, “We are very pleased to complement our portfolio with such an attractive range of beverage products, as the combination better meets customer needs, especially among food service chains. This move will also reinforce our presence in North America, one of the largest global markets for professional appliances.”