- Leading kitchen appliances company Breville Group (BRG) has completed its US$60 million (approx. A$83 million) purchase of Baratza
- Baratza is a Seattle-based coffee grinding company which designs and markets premium coffee grinders
- This purchase brings together two of the world’s leading design and global distribution of coffee products
- Of the $83 million, around US$43 million (around A$60 million) was paid in cash, while the other US$17 million (nearly A$24 million) was issued through shares
- On market close for the weekend, Breville is down 0.62 per cent and trading for $25.73 per share
Leading kitchen appliances company Breville Group (BRG) has completed its US$60 million (approx. A$83 million) purchase of Baratza.
Approximately US$43 million (around A$60 million) of the payment was paid in cash, while the other US$17 million (nearly A$24 million) was issued through shares.
Baratza was founded in 1999 and designs and markets premium coffee grinders for North American and international markets.
This purchase will fit in well with the Breville’s existing premium coffee business and brings together two of the world’s leading design and global distribution of coffee products.
Breville CEO Jim Clayton is excited to bring Baratza into the Breville world.
“Our combined experience will unlock dynamic revenue synergies for both businesses, that share a passion for innovation and an unwavering commitment to enhancing the consumer experience,” he said.
Baratza CEO and Co-Founder Kyra Kennedy is also pleased with the acquisition.
“As a business renowned for its excellence in leading-edge design and customer service, it is vital to us that we maintain our unique culture and global brand,” she told the market today.
“In Breville Group, we are confident we have found a partner with shared values and deep category expertise, whose vision for the future complements our own,” she added.
On market close for the weekend, Breville is down 0.62 per cent and trading for $25.73 per share.