March 16, 2021 | Deals

GCA Altium advises Otto Wilde Grillers on its sale to Miele

GCA Altium acted as exclusive financial advisor to the shareholders on the sale of Otto Wilde Grillers, a leading D2C brand that designs, manufactures and markets high-end gas and electric grills, to Miele, the world’s leading manufacturer of premium domestic appliances.

Otto Wilde was founded in 2015 in Düsseldorf, Germany, by the mining engineer and ex-CEO of a machine construction company, Ulrich Otto Wilde, who built up the company with his son Nils, daughter-in-law Julia, and Alexander Luik. Otto Wilde’s grills are primarily sold through their strong D2C platform and are currently manufactured in Germany and China. One of their flagship products is the highly versatile top-heat O.F.B. grill with infinitely adjustable temperatures up to 900°C, which has received the German Design Award 2018 and the Iconic Award 2019. Otto Wilde also has a highly innovative gas grill in the pipeline, based on their G32 platform, which with the aid of modules can be easily extended into a complete outdoor kitchen.

Miele is the world’s leading manufacturer of premium domestic appliances including cooking, baking and steam-cooking appliances, refrigeration products, coffee makers, dishwashers and laundry and floor care products. Founded in 1899 and based in Westphalia, Germany, the company has eight production plants in Germany, one each in Austria, the Czech Republic, China, Romania and Poland, as well as two production plants belonging to its Italian medical technology subsidiary Steelco. Throughout the world, the family-run enterprise, now in its fourth generation, employs a workforce of around 20,900, of which approximately 11,050 work in Germany.

Miele have taken a 75.1% stake in the company, with Otto Wilde contributing its expertise in the field of innovative high-end grills and accessories, and Miele bringing many years of know-how in the development, production, connectivity and marketing of premium built-in appliances worldwide.

“With its technical excellence in the field of premium built-in kitchen appliances, Miele is in a position to make valuable contributions towards expanding our portfolio,” said Nils Wilde. Further benefits will come from Miele’s worldwide market presence, not least with a view to the future internationalisation of the Otto Wilde product range. Alexander Luik agrees: “We are very pleased at having found a strong and reliable partner in Miele, a partner who shares our philosophy of perfection and premium aspirations and can support us in many ways.”

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