Sale Of Italian Moka Pot Maker Bialetti To Chinese Firm NUO Capital To Be Finalized – CoffeeTalk

Bialetti, the Italian manufacturer of the stove-top moka coffee pot, has been sold to Luxembourg-registered investment vehicle NUO Capital. The company, founded in 1933 by Alfonso Bialetti, is being bought by NUO Capital for €53m (£46m) for 78.6% of its shares. The deal is expected to close by the end of June before a tender for the remaining shares is launched at a price of no less than €0.467 each before the company is delisted from Milan’s stock exchange.

The acquisition comes at a sensitive time for Italy’s prime minister, Giorgia Meloni, who will meet Donald Trump in Washington on Thursday to reignite dialogue with the EU over his threatened trade tariff increases. Italy’s relationship with China, with whom the US is embroiled in a fierce tariff war, could be problematic.

Bialetti’s inexpensive but stylish octagonal moka pots were aimed at bringing the espresso-style experience into the home. The name moka originated from the city of Mokha in Yemen, one of the first places in the world to produce coffee. Bialetti struggled during the second world war due to a shortage of aluminium but was revived by Alfonso’s son, Renato, who turned the moka pot into a global icon after introducing “the little man with a moustache”. Renato died in 2016, with his ashes buried inside a giant moka.

In 2024, the company posted a €1.1m loss and closed the year with adjusted net financial debts of €81.9m. Egidio Cozzi, who will stay on as Bialetti chief executive after the acquisition, said that today Bialetti is a more solid company with a clear strategic vision and a globally recognized brand.

Read More @ The Guardian