PARIS, FRANCE: Peugeot Invest has sold its entire stake in Groupe SEB, a French manufacturer of small appliances, for €236 million. The deal was done through a private placement to institutional investors at €106 per share, a financial news announcement noted.
Peugeot Invest, an investment company majority-owned by Etablissements Peugeot Frères, had invested in Groupe SEB in 2004. Since then, Groupe SEB’s sales have more than tripled, thanks to its market expansion, product innovation, and acquisitions. Peugeot Invest’s investment value increased by 4.3 times, yielding a 10% annual return.
Peugeot Invest is one of the leading shareholders in Stellantis and Forvia, and has stakes in various listed and unlisted companies. It follows a minority and long-term investment strategy.
Bertrand Finet, CEO of Peugeot Invest, commented: “We are proud to have contributed to Groupe SEB’s successful development over the past 20 years, and to have supported its high-quality management team. This investment fully illustrates Peugeot Invest’s strategy of creating significant value by supporting leading family groups in growth markets over the long term. This disposal is part of Peugeot Invest’s asset rotation strategy.”
Goldman Sachs Bank Europe SE and Natixis acted as Joint Bookrunners on the transaction. The settlement and delivery of the shares will take place on 29 February 2024.
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