Another symbol of Made in Italy, the one with the "little man with a moustache", changes hands. This time the flag changes hands. Bialetti, Italian symbol of coffee. The Luxembourgish New Capital, which is headed by Chinese tycoon Stephen Cheng, he perfected the signing of a sales contract for the purchase of 78,567% of Bialetti shares. It will be launched later the takeover bid for the next one delisting from the Milan Stock Exchange.
Un first chord was reached by Nuo Capital with Bialetti Investimenti and Bialetti Holding for the purchase of 59,002%, for a consideration of 47.334.000. A according to contract of sale was stipulated with Sculptor Ristretto Investment, for the purchase of approximately 19,565% for a total consideration of 5.731.000 euros.
The sales contracts therefore provide that Nuo Octagon, also through another company directly or indirectly controlled and designated by it as the buyer, purchases from the sellers a total shareholding of 78,567% of the share capital of Bialetti.
Il closing is expected by the end of June 2025. It will then promote atakeover bid totalitarian on the Bialetti shares listed on Piazza Affari, with a consideration of not less than 0,467 euros per share. Following the closing of the takeover bid, the buyer intends to pursue the delisting of the Bialetti shares.
Bialetti closes 2024 with revenues growing (+5,9%) and an improving net loss (-1,11 million), but remains burdened by debt. Even after the closing, Egidio Cozzi will remain CEO in continuity with the previous management.
“Today Bialetti is a more solid company, with a clear strategic vision and a globally recognised brand – he said Cozzi – This milestone is the result of constant commitment, the determination of our team and the trust placed in us by stakeholders. With the entry of NUO, a new chapter opens, full of opportunities: we will continue to invest in innovation, internationalization and authenticity, always keeping the passion for coffee and the excellence of Made in Italy at the center”.
The history of Moka
In 1933, Alfonso Bialetti created the Moka Express: it would revolutionize the way of preparing coffee at home, accompanying the awakening of generations of Italians and making the company, thanks also to the ambition of his son Renato, one of the main Italian producers. The name derives from the city of Mokha in Yemen, one of the first and most renowned coffee producing areas. Making the Moka iconic and transforming Bialetti into a successful brand is also “thelittle man with a moustache” born from the pencil of Paul Campani, who after having accompanied generations in the “Carosello” is today present on all the company's products.
