Category Archives: SDA

Conair Corporation To Be Acquired By American Securities

Posted on by

Conair Corporation, a global leader in premium kitchen electric appliances, non-electric kitchenware, personal care, grooming, health and beauty products, and American Securities LLC, a leading U.S. private equity firm, announced today that Conair has entered into a definitive agreement to be acquired by affiliates of American Securities.  Financial terms of the transaction were not disclosed.  Certain members of the Rizzuto family will retain a minority ownership in Conair.

Based in Stamford, CT, Conair’s iconic brands include Cuisinart®, Conair®, Babyliss®, Scunci® and Waring®.  Founded in 1959 by Leandro Rizzuto, the Company started as a small hair appliance company.  Today, Conair sells its products in more than 120 countries across six continents.  

“I am proud to continue the journey I started under Mr. Rizzuto more than 40 years ago that helped us grow our iconic brands into a world class, diversified global company proudly sharing our products in millions of consumers’ homes,” said Ron Diamond, Conair’s President.  “The partnership with American Securities will allow us to continue our evolution with a focus on new product development and an acceleration of our M&A activities while continuing to bring efficiencies to our operations.”  Following the consummation of the transaction, Mr. Diamond will become President and CEO of Conair. 

“We are excited to partner with Ron and the rest of the Conair management team as they continue to execute on a strategy to expand on the exceptional brand portfolio that consumers love all over the world,” commented Kevin Penn, a Managing Director of American Securities.  “The Company’s scale, best-in-class product offering, supply chain capabilities, and strong management team creates a sustainable competitive advantage and makes Conair a strong fit for our investment strategy,” added Helen Chiang, a Managing Director of American Securities. 

Paul, Weiss, Rifkind, Wharton and Garrison, LLP served as legal counsel to Conair and Weil, Gotshal & Manges LLP served as legal counsel to American Securities with respect to the transaction.  Sawaya Partners LLC and PJ Solomon acted as financial advisors to Conair with respect to the transaction. 

About Conair
Based in Stamford CT, with operations worldwide, Conair is a leading designer, manufacturer, and marketer of branded personal care and small kitchen appliances, cookware, hair brushes & accessories, cosmetic bags, and travel accessories.  For more information, visit www.conair.com.

About American Securities
Based in New York with an office in Shanghai, American Securities is a leading U.S. private equity firm that invests in market-leading North American companies with annual revenues generally ranging from $200 million to $2 billion and/or $50 million to $250 million of EBITDA. American Securities and its affiliates have approximately $23 billion under management. For more information, visit www.american-securities

British appliances producer Morphy Richards opens Romanian subsidiary

Posted on by

Morphy Richards, the British home and kitchen appliances brand, part of Glen Dimplex group, will enter the Eastern European market in early 2021 through a Bucharest branch.

The group has a partnership with Altex in the online area and is developing partnerships with other retailers, announced Laurentiu Codescu, Head of Eastern Europe Market at Glen Dimplex.

Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

Posted on by

Japanese Maker of $230 Toaster Sees Its Shares Pop Up in Debut

A Balmuda toaster.

Boutique Japanese appliance maker Balmuda set out to make the perfect slice of toast, using the right combination of temperature, moisture and cooking time. Now, it looks like the company will have to bring as much care and attention to its stock price.

The company behind the $230 toaster which is now being sold outside of Japan and South Korea, saw its shares double on their first day of trading on Wednesday. The stock was set to rise by its limit Thursday, potentially giving Balmuda a market value of 35.2 billion yen ($340 million). It’s a heady debut for founder Gen Terao, a high-school dropout who owns three-quarters of the company.

Since the toaster’s debut in 2015, Balmuda has expanded into a range of appliances that include a rice cooker, room fan and vacuum cleaner. Like its products, the company’s shares are on track to be expensive. They’re currently worth about 40 times last year’s earnings, a valuation more than double that of Panasonic Corp., the mainstay of Japanese appliance makers.null

“Balmuda, like its products, is easy to understand,” said Kazuo Kishi, an analyst at Ace Securities and the only one who has issued a report on the company. Although Kishi hasn’t yet rated the stock or set a price target, he expects Balmuda’s shares to climb higher this week as retail investors flock to the stock.

Balmuda, based in Tokyo’s suburbs, was the first to seek to transform the humble toaster into a high-tech, and high priced, gadget. Then last year Mitsubishi’s took on the toaster challenge and introduced the Bread Oven, a $270 gadget that makes a single slice of toast at a time. Mitsubishi’s toaster seals bread inside a metal box and transfers heat using two plates at temperatures as high as 260 degrees Celsius (500 degrees Fahrenheit).

Both have their merits. The Balmuda can take a stale rubbery croissant and turn it into a flaky delight. The Bread Oven makes exquisite French toast.

Balmuda is among several companies listing on Tokyo Stock Exchange’s Mothers market in the remaining months of 2020. The toaster maker’s shares remained untraded early on Thursday, as the number of bidders outweighed sellers.

The company will use part of the 2.5 billion yen in proceeds from the initial public offering to boost marketing by 35%, including in the U.S., and spend 600 million yen on developing new products over the next two years. While Balmuda designs and markets its appliances, production is outsourced to domestic and overseas manufacturers.

Big growth for small domestic appliances

Posted on by

According to GfK data, small and major appliances faced the pandemic situation without significand drop. The Small Domestic Appliances (SDA) market grew by a solid +8.6 percent while the Major Domestic Appliances (MDA) market (including Air Conditioners) experienced limited losses of -8.6 percent in value terms. Excluding Air Conditioners the revenue loss was only -3.7 percent.
«Although the pandemic had a significant negative impact on sales due to retail shutdowns – GfK experts explains – the increased focus on the at-home experiences drove a sales recovery in May and June. Sales of appliances addressing the new challenges generated by the enforced need to “eat at home”, “clean at home” and “groom at home” soared. This includes microwave ovens, vacuum cleaners, dishwashers, beard trimmers and multi-grooming kits. However, for some categories, entire seasons were lost due to COVID-19 – for example, Air conditioners. Overall, MDA (excluding Air Conditioners) only lost -3.7 percent in value terms – even less than the total -5.8 percent for the tech & durables (TCG) market. Whatever the appliance, the overall trends driving choice for consumers of performance, simplification, health hygiene and borderless shopping have become more relevant than ever.»

Looking at the regions, in the first half year of 2020 (H1 2020), the SDA market experienced a solid performance in the developed world. Europe (including CIS) grew by +9 percent. The MDA market was almost stable at -2 percent here. Developed Asian countries also saw a strong uptake of MDA products at an +2.7 percent uptick. While affluent countries were able to invest in appliances to makes their life easier in lockdown, this was less feasible in emerging economies due to the immediate impact of the pandemic on income and willingness to spend money. Consequently, the emerging Asian countries (including China) experienced a double-digit decline in value, weakening MDA market growth. However, the low price point of SDA products and the urgent need for cooking and cleaning products supported a rapid revival of SDA in emerging Asian countries (including China). Here SDA grew by +10.9 percent. Fortunately, in June total appliances growth recovered with double digit sales growth both in China and the rest of the world.

Cuisinart Precision Master™

Posted on by

The team at Good Housekeeping recently named the Cuisinart Precision Master™ 5.5-quart Stand Mixer (SM-50TQ) as the “Best Multi-Purpose Stand Mixer” in their list of, “6 Best Stand Mixers,

Precision Master™ 5.5-Quart Stand Mixer

5.5-quart capacity, polished stainless steel bowl
500-watt motor
Die-cast metal construction
12 speeds for precision mixing
Tilt-back head
One power outlet for optional attachments
Includes chef’s whisk, dough hook, flat mixing paddle, and splash guard with pour spout
Instruction/Recipe book

NEW SMEG SLATE GREY / KETTLE TOASTER

Posted on by

https://www.smeguk.com/news/2020/slate-grey-breakfast-set.html

Smeg announce the addition of a sleek new finish to its KLF03 kettle and TSF01 toaster, a rich and elegant Slate Grey hue. This smart new shade joins Smeg’s extensive colour range, which already includes bold bright, fun pastels and opulent metallics.
Whether you are looking to create a focal point within your kitchen or introduce an industrial style to your space, slate grey is so versatile.

NEW CORDLESS COLLECTION FROM KITCHEN AID

Posted on by

Mixers, choppers and blenders without cord are the practical proposal of KitchenAid that with its Cordless Collection offers the possibility to cook everywhere, in a new free way, and using appliances characterized by original and appealing look. Designed with a rechargeable lithium-ion battery, the new Cordless Collection delivers optimal run time and performance. The Collection includes seven colors variants of choppers, hand mixers and hand blenders.
The cordless chopper chops, mixes and purees without limitations, from any counter or tabletop in the kitchen: it chops up to 40 onions on a full charge 2 and features 2 speed settings. The KitchenAid cordless hand mixer, instead, makes up to 200 cookies on a full charge 3 and has 7 speeds to stir, mix and whip recipes. Finally, the cordless hand blender is able to blend 25 bowls of soup on a full charge. It also features variable speed trigger switch for flexibility and control and a 4-point stainless steel blade.

Samsung may acquire the appliances unit of Philips

Posted on by

Samsung may acquire the Philips’ appliances unit soon. The same possibility is also applicable to the other South Korean Giant LG. Both these Korean brands may come up with their small home electronics product offerings. Though there is no official confirmation from their side.

The Dutch company, Philips already announced its plan to sell its domestic appliances business in 2021, and as per a report of Pulse, Samsung might be planning to take that division. The uncertainty is also there because Samsung generally focuses on high-end products and white goods.

Philips is actually trying to focus on the healthcare sector. As a result, it is on the way to sell the audio and video business as well as the lighting department.

Philips Business chart_TechnoSports.co.in
by Pulse

Same as Samsung, there is also a high possibility for LG, as I told earlier. We all know that Samsung is currently selling refrigerators, ovens, washing machines, and some other under its home appliances section. If it acquires the Philips’ part, then it can reach to the small home electronics products as well.

At present, Philips has its research and development centers in India, Hong Kong, Singapore, and Italy having around 4,700 employees. Other than that, there are factories in Austria, Brazil, and China.