De’Longhi has agreed a deal to take full control of coffee machine manufacturer Eversys, acquiring the remaining 60% stake in the company for approximately CHF 110 million ($118.4 million).
De’Longhi initially purchased a 40% minority stake in Eversys in 2017, but has now opted to fully acquire the coffee machine manufacturer. When taking the initial purchase into consideration, the total enterprise value of the complete acquisition is approximately CHF 150 million ($161.4 million).
Founded in 2009, Switzerland-based Eversys manufactures a range of professional espresso coffee machines, with a focus on fully-automatic coffee machines. The company inaugurated a new coffee machine production plant in Sierre, Switzerland in 2020.
Completion of the transaction is subject to approval from Swiss anti-trust authorities, but is anticipated within the first half of 2021.
Massimo Garavaglia, CEO of De’ Longhi, said: “We are excited about our new important step in the world of coffee.
“At Eversys, we admire the passion for excellence, quality and the strong ability to innovate, values that guided the founders Jean Paul In-Albon and Robert Bircher in the realisation of their dream. All elements that we share and which have been the engine of the collaboration developed since the beginning and which will continue to be the basis of our common future projects”.
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