Groupe SEB announced it has recently signed an agreement with its long-standing partner in Egypt, the Zahran family. The agreement is about the merger of small electrical appliances and cookware businesses with a view to reinforcing the Groupe SEB manufacturing base in Egypt to serve the local and export markets. Founded in 1967, the Zahran Group produces cookware in Egypt in two industrial sites. It has 11 Zahran-branded stores and employs over 700 people. Since 1973, it has been manufacturing and marketing cookware under the Tefal and Zahran brands in Egypt.
According to Business Wire, with a view to strengthening the current collaboration, Groupe SEB and the Zahran family decided to form a new entity, Groupe SEB Egypt Zahran, owned 55% by Groupe SEB and 45% by Zahran. This new company unites the two business activities -Small electrical appliances and cookware.
The transaction, subject to the approval of the Egyptian regulatory authorities, is expected to be finalized in second quarter 2018.
