Groupe SEB: Creation of a Holding Company to Strengthen Family Control
15 März 2021 - 6:43PM
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
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