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TRIESTE, Italy – illycaffè S.p.A. has announced that it has acquired full control of the Swiss distributor Thalwil, based in the canton of Zurich. The economic details of the transaction have not been disclosed. illy operates in the Swiss Confederation, an important market for the Trieste-based group, through Illycafè Thalwil AG, a company created in 1939.
The subsidiary was then sold at the end of the 1960s to the Swiss family Seitz, which has retained the rights to market the illy brand ever since.
Through this acquisition, illycaffè will be able to expand its presence in all the main distribution channels, enhance the brand experience and increase operational efficiency, in line with its growth and international development objectives.
The transaction represents further confirmation of the company’s willingness to pursue its investment plan despite the complex macroeconomic and geopolitical context and the continuing volatility of the price of green coffee, which has tripled in the last three years.
“The Swiss market is highly strategic in terms of size, premiumness and potential, representing a significant growth area for the brand. The acquisition is also part of a broader strategy to strengthen our direct presence in key European markets,” commented CEO Cristina Scocchia.
In 2024, illycaffè generated consolidated sales of €630 million. The illy single-brand network comprises 157 points of sale in 28 countries.
