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Hamilton Beach signs multiyear deal with Sub-Zero
May 20, 2014
Hamilton Beach Brands Inc., the Henrico County-based maker of small household appliances and commercial-grade kitchen products, will create luxury countertop appliances and kitchen tools under the Wolf Gourmet brand name for Sub-Zero Group Inc.
The two companies entered into an exclusive multiyear licensing agreement. The businesses announced the deal Tuesday.
Based in Madison, Wis., Sub-Zero Group manufactures premium appliances under the Sub-Zero and Wolf brands.
“We are not talking specifically about the products at this time,” Hamilton Beach spokeswoman Mary Beth Brault said Tuesday.
She did say that the product line will be luxury with very high-end price points.
“A lot of people consider Hamilton Beach for its blenders and toasters but we have been making premium commercial products for restaurants and professional chefs for more than 100 years,” Brault said.
Hamilton Beach has been working on a relationship with Sub-Zero for a long time, she said, without being more specific.
“Sub-Zero has been around a long time and this is a very good fit for both companies.”
Hamilton Beach will develop, market and sell Wolf Gourmet products at select retailers.
The premium line of products also will be available to consumers through the Sub-Zero and Wolf distributor and dealer network.
The U.S. product launch is planned for spring 2015, and globally at an unspecified later date.
Greg Trepp, president and CEO of Hamilton Beach Brands, said the company looks forward to its collaboration with Wolf. The companies share a rich history of developing exceptional products with high standards of quality; state-of-the-art technology; and thoughtful, innovative design, he said in a statement.
“In Wolf Gourmet’s line of countertop appliances and kitchen tools, owners can expect the same impeccable quality and unmatched performance that Wolf incorporates into each oven, range and cooktop,” said Jim Bakke, president and CEO of Sub-Zero.
Hamilton Beach products can be found in households and businesses throughout the world under the Hamilton Beach, Proctor Silex, TrueAir and Hamilton Beach names.
The company is a wholly owned subsidiary of NACCO Industries Inc.
For 2013, Hamilton Beach reported a profit of $25.1 million on revenue of $547.8 million compared with net income of $21.2 million on revenue of $521.6 million in 2012.
Founded in 1945, Sub-Zero is a leading manufacturer of American-made luxury refrigeration, freezer and wine storage products. It pioneered the concept of dual refrigeration and prides itself on being the first company to store frozen foods at ultralow, sub-zero temperatures.
Copyright Richmond Times-Dispatch. Used by permission.
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