In the days in which “Made in Italy” is celebrated, one of its historical and most iconic symbols of our industry changes ownership. Bialetti, the queen of Italian coffee, founded in 1933 by Alfonso Bialetti and made famous thanks to the Moka Express and the “little man with the moustache”, has passed into Chinese hands. The holding New Octagon has in fact acquired 78,56% of the capital of the historic Italian company, effectively starting a new chapter in its long history.
An operation over 42 million euro, which also includes a mandatory takeover bid on the remaining shares. The stock, after the announcement, shot up on the stock exchange with a leap of 60 %, a sign that the market has enthusiastically welcomed the agreement. But the timing raises more than one reflection: while the excellence, tradition and value of Italian products were being celebrated, another historical reality was being absorbed by foreign investors.
“Today Bialetti is more solid and projected towards the future – declared the CEO Egidio Cozzi – We will continue to invest in innovation and internationalization keeping the excellence of Made in Italy at the center». Also Francesco Ranzoni, chairman of the board of directors, spoke of a “great potential” and a “strategic lever to consolidate the brand abroad”.
