Chinese Investor Acquires Iconic Italian Brand Bialetti Amid Financial Challenges

The renowned Italian espresso maker Bialetti, a brand synonymous with coffee culture, is poised for a significant transformation following its acquisition by Nuo Capital, a Chinese-controlled investment fund. This move comes at a crucial time as the company has been grappling with financial difficulties for several years.

Bialetti, which is publicly traded on the Milan Stock Exchange, announced the deal, stating that Nuo Capital will acquire a 78.5% stake from the current majority shareholder, Francesco Ranzoni. The valuation of Bialetti is set at approximately EUR30 million, while the company is contending with a substantial debt of EUR124 million. Additionally, Bialetti has outstanding tax obligations amounting to several million euros to the Italian government.

The acquisition will result in Bialetti being delisted from the Milan Stock Exchange. The brand, which was established in 1933 by Alfonso Bialetti, revolutionized coffee brewing with its iconic octagonal Moka pot, fundamentally altering coffee preparation practices in Italy and beyond. Aside from espresso makers, Bialetti's product line includes electric coffee machines, cups, coffee, and various kitchen appliances.

Tommaso Paoli, the CEO of Nuo, expressed optimism regarding the acquisition, highlighting the opportunity it presents to set new growth targets for this historic brand that embodies Italian culture and tradition.

In terms of financial performance, the Bialetti Group reported a consolidated revenue of EUR149.5 million for 2024, an increase from EUR141.2 million in 2023. Notably, the company's losses decreased from EUR2.2 million to EUR1.1 million during the same period, indicating a potential turnaround.