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MILAN – Bialetti, the iconic Italian brand that invented the world-famous moka coffee pot in 1933, passes into foreign hands. The Board of Directors of Bialetti Industrie S.p.A., which is based in Coccaglio (Brescia), has in fact been informed that Octagon BidCo S.p.A. has acquired control of the company. The bidder is an investment vehicle belonging to NUO, a group of holding companies established in Milan in 2016.
Thanks to private capital from international entrepreneurial families, the NUO group invests in companies that symbolise Made in Italy in the consumer goods sector, supporting their international growth.
This is the closing of the operation announced on 16 April. Among the main investors in the Nuo Capital fund is the Pao-Cheng family, but also involved are Agnelli family’s Exor and Jakyval (Guerrand Hermès).
Octagon has finalised the purchase of a total stake equal to 78.567% of Bialetti’s share capital and 78.650% of the related voting rights, amounting to 121,607,985 ordinary shares, in execution of two share purchase agreements held by Bialetti Investimenti S.p.A. and Bialetti Holding srl, respectively.
The consideration for the transfer is Euro 47.334 million, but the value of the entire transaction is around Euro 150 million.
Following the closing, three directors resigned from the board of directors (the chairman, Francesco Ranzoni, Marco Ghiringhelli and Amelia Mazzucchi).
The new board of directors is now headed by Giuseppe Morici (president) and Egidio Cozzi (managing director).
“The transaction sets new growth targets for a historic brand that will maintain its strong Italian cultural identity,” said Tommaso Paoli, CEO of Nuo.
