Breville (ASX:BRG) acquires Baratza

Company News

by Katrina Bullock

Kitchen appliance manufacturer, Breville Group (ASX:BRG) has acquired Baratza on a cash and debt free basis for approximately US$60 million.

Seattle based coffee grinding company Baratza designs and markets premium coffee grinders for North American and international markets.

Breville paid around US$43 million from existing cash reserves, and the remaining US$17 million by issuing additional shares in the company.

Shares in Breville Group (ASX:BRG) are trading 0.3 per cent higher at $25.97.