Italian group buys Kenwood in £45.9m deal

Italian group De'Longhi is to buy UK-based food blender-to-kettles firm Kenwood Appliances in a £45.9 million deal.

Kenwood says it has reached agreement with the family-owned Italian firm on the cash offer.

It says the deal will create a leading European manufacturer of air conditioning, heating, cooking and food preparation appliances.

David Nash, chairman of Havant-based Kenwood, says the group had received a number of approaches in recent months.

He says it considered De'Longhi's offer to be "in the best interests of shareholders".

Nash adds: "Becoming part of De'Longhi represents an opportunity for Kenwood and its employees to work with a substantial European partner capable of making the most of Kenwood's strengths and reputation in the market."