TREVISO, Italy – Following the completion of the authorization process by the competent bodies (in particular the Antitrust bodies) and the fulfilment of the conditions precedent, the De’ Longhi Group (“De’ Longhi”) yesterday finalized the agreement for the taking over of the full control of the Swiss group Eversys (“Eversys”). The deal takes the form of the acquisition of the remaining 60% stake in Eversys, which adds to the 40% acquired by De ‘Longhi in June 2017.
As already communicated in our press release dated March 22nd, the amount agreed for the remaining 60% stake is ca. CHF 110 million, which brings the total value (“Enterprise Value”) of the acquisition of 100% of the group to approx. CHF 150 million.
The Eversys group, founded in 2009 and based in Sierre, is operating in the engineering and marketing of professional espresso coffee machines, with a specific focus on full-automatic models, for which the company has developed a highly innovative technology that ensures a positioning at the high end of the reference sector.
Eversys, which in 2016 reported sales of ca. CHF 17 million, achieved consolidated revenues in 2020 of ca. CHF 65 million, with an adjusted Ebitda of ca. CHF 12 million.
This remarkable development has been made possible also thanks to the strong collaboration established in the recent years with the De’ Longhi Group, which offered financial support, industrial know-how and distribution structures, all essential factors for strengthening the future development plans.
Furthermore, in 2020, Eversys inaugurated a new state-of-the-art production plant in Switzerland.