MILAN, Italy – Massimo Zanetti Beverage Group S.p.A. announced that it has reached an agreement to sell La San Marco for an undisclosed sum to Groupe SEB S.A., world leader in the production of small household appliances for professional and domestic use, listed on the Euronext in Paris. La San Marco is a world leader in the manufacturing of espresso lever machines.
An Italian company founded in 1920, La San Marco manufactures, markets and distributes professional coffee machines and grinders.
The recognized leader in the expresso machine segment with the traditional lever system, the company offers a very diversified product range, mainly manufactured in Italy at Gradisca d’Isonzo (Gorizia).
Inventor and pioneer of the LEVA technology, a system providing controlled extraction to guarantee the perfect safety of traditional machines, La San Marco holds numerous patents giving it a significant competitive advantage.
Before being fully acquired by Groupe SEB, La San Marco was 85.3% held by the Massimo Zanetti Beverage Group (MZBG), and 9.6% owned by minority shareholders, with 5.1% treasury stock.
The sale of La San Marco is in line with the strategic plan of Massimo Zanetti Beverage Group, of refocusing its activities on core-business on a worldwide basis.
“We are very pleased to sign this transaction with Groupe SEB S.A, a well-known company in the sector, with whom we will continue to collaborate to expand the global development of La San Marco” – says Massimo Zanetti, Chairman of Massimo Zanetti Beverage Group.
“This agreement will also allow our Group, which exceeded sales of 1.4 billion euro in 2022, to focus on our core business and on the growth of the Segafredo brand, synonymous with Italian espresso coffee since 1960, as well as our local markets brands, thanks to our ability to merge tradition with new market trends”.
“We are delighted to acquire La San Marco, which will enable Groupe SEB to consolidate its activities in the professional coffee machine segment with recognized historic expertise and a genuinely complementary fit with our existing range” said Thierry de La Tour d’Artaise, Chairman of Groupe SEB.
“This transaction is in line with the Group’s desire to accelerate development in the professional universe, a market enjoying strong and profitable growth. Just like at Groupe SEB, innovation is at the heart of this secular company. We are thrilled to welcome the employees of La San Marco and together we will continue to realize our ambitions in the professional sector.”
About La San Marco:
– Created in 1920 in Italy and based at Gradisca d’Isonzo (Gorizia)
– 2022 revenue of €19.7 m (12 months to end-September 2022)
– Present in more than 120 countries, 53% of export revenue
– 94 employees
– Broad range of traditional, automatic and semi-automatic machines, as well as capsule machines, coffee grinders and other equipment representing 75 products marketed, 1,000 variations, 10 certifications
– 21 patents filed, including 8 for which registration is ongoing
About Groupe SEB
World reference in small domestic equipment, Groupe SEB operates with a unique portfolio of 32 top brands including Tefal, Seb, Rowenta, Moulinex, Krups, Lagostina, All-Clad, WMF, Emsa, Supor, marketed through multi-format retailing.
Selling more than 400 million products a year, it deploys a long-term strategy focused on innovation, international development, competitiveness, and client service. Present in over 150 countries, Groupe SEB generated sales near €8 billion in 2022 and has more than 33,000 employees worldwide.
In 2022, Groupe SEB reported sales in the Professional business amounting to €725m, up 15.6% including 9.2% organic growth, confirming strong sales trends. The professional business accounted for 10% of Groupe SEB’s total revenue.
Professional Coffee represents 90% of sales in the segment, via automatic espresso machines or the professional preparation of filter coffee. Groupe SEB also has a Hotel division and its Krampouz subsidiary is a world leader in professional crepe makers and griddles.
With the acquisition of WMF in 2016, Groupe SEB strengthened its portfolio with two highly attractive brands, WMF and Schaerer, and became a world leader in the fast-developing professional coffee machines market. In addition to Schaerer, it also includes the coffee machine brand Wilbur Curtis, aquired in 2019.