Groupe SEB completed the acquisition of a 55% stake in StoreBound.

Groupe SEB, a manufacturer and distributor of home appliances, completed the acquisition of a 55% stake in StoreBound, a firm specializing in wholesale distribution of home furnishings and housewares. Financial terms were not disclosed. “With the investment in StoreBound, we will strengthen our presence in the American housewares market. With its strong and innovative business model and brands, StoreBound is very complementary to our consumer business in the US. The company has launched over 200 products and built the largest organic social media following in the US industry. We are pleased to welcome the StoreBound team and founders into the Groupe SEB family," Thierry de La Tour d’Artaise, Groupe SEB CEO.