ECULLY, France--(BUSINESS WIRE)--Regulatory News:
The family shareholders of Groupe SEB (Paris:SK), who signed the shareholders’ agreement on February 27, 2019, together hold 31.9% of the share capital. This group of 260 individuals is structured around GÉNÉRACTION and VENELLE INVESTISSEMENT.
To ensure long-term family control and strengthen ties with Groupe SEB, the concerted family shareholders created a family holding company on March 12, 2021 to strengthen its position.
On the same day, this holding company, called HRC (Holding de Renforcement du Contrôle), received a significant portion of the SEB shares held by the concerted parties, i.e. 6.4% of the capital of SEB SA, with this group continuing to hold 31.9% of the capital. Note that HRC is a party to the shareholders' pact of 27 February 2019 and as such is a member of the concerted group.
Using these assets together with debt, HRC aims to acquire SEB shares. This objective will be pursued gradually and in compliance with current stock market regulations.
This move reflects the family group's strong commitment to Groupe SEB, confirming its confidence in the Group's sustainable growth model and its desire to support it over the long term.
This latest step is in keeping with the shareholders’ agreement of February 2019. The holding company will be managed by two members of the seventh generation of the Lescure family.
Damarys Braida, President of VENELLE INVESTISSEMENT and Caroline Chevalley, President of GÉNÉRACTION, stated:
“The creation of HRC, the culmination of joint efforts by all generations of family shareholders, is an important step and reflects our strong commitment to the Group, its history and its values.
The shared ambition that informs HRC is to continue to support the Group—an industry leader and French icon—as well as its management, in its long-term growth strategy.”
Thierry de la Tour d’Artaise, Chairman and CEO of Groupe SEB, commented:
“As our Group, founded by Antoine Lescure, celebrates its 164th anniversary, I am delighted that GÉNÉRACTION and VENELLE INVESTISSEMENT members have decided to increase their stake in the Group, thereby preserving its family identity and demonstrating their renewed confidence in the Group, as well as their desire to play a long-term role in its future.”
Next key dates - 2021 |
|
April 22 | after market closes |
Q1 2021 sales and financial data |
May 20 | 3:00 pm (Paris time) |
Annual General Meeting |
July 23 | before market opens |
H1 2021 sales and results |
October 26 | after market closes |
9-month 2021 sales and financial data |
Find us on www.groupeseb.com
World reference in small domestic equipment, Groupe SEB operates with a unique portfolio of 31 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing. Selling more than 360 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness and client service. Present in over 150 countries, Groupe SEB generated sales of €6.9 billion in 2020 and has more than 33,000 employees worldwide