Groupe SEB has reached an agreement to purchase 100% of shares of the OBH Nordica group, a player in the small domestic appliance industry in Scandinavia. The closing is expected to take place at the end of August, which is the end of OBH Nordica’s fiscal year. Founded in 2002 and headquartered in Sundbyberg, north of Stockholm, OBH Nordica markets a wide range of kitchen products (kitchen electrics and cookware), representing 80% of its revenue, as well as personal and home care appliances. “Thanks to strong in-house innovation – Groupe Seb explains in a official note – the company enjoys top-ranking positions in the Nordic region, implementing a single brand strategy with high awareness in Sweden, Denmark, Finland and Norway”. OBH Nordica achieved SEK612 million turnover in 2014 (approximately 65 million euro) and has around 7% value market share in the Nordic SDA market.
