Iconic Italian Moka Pot Maker Bialetti Bought Out By Chinese-Backed Firm – CoffeeTalk

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Bialetti, the famous Italian stove-top moka coffee maker, is on the verge of a buyout deal with a part Chinese-owned company due to strong sales of capsule coffee leading to soaring debt. The company, based in Coccaglio, near Brescia, sells an estimated two million mokas bearing the image of the brand’s mustachioed mascot every year. Sales have plummeted as coffee lovers increasingly install electric coffee pod machines in their kitchens, a speedier alternative to the moka. A study by Competitive Data found that profits in the coffee capsule sector grew by 63% last year.

International competition from other moka makers and the closure of shops during the Covid-19 lockdowns have added pressure. Bialetti was given an extended deadline of April 30 to pay off debts of €90.3 million, up from just over €78.2 million in 2018. Improved revenues of €104.7 million last year, up 6%, have not been enough to save the company, which has been on the hunt for a buyer since 2023.

Under its new ownership, Bialetti plans to expand international sales, develop ecommerce channels, and increase investment in marketing. Chinese investors have shown intense interest in Italian companies in recent years, acquiring stakes in tyre maker Pirelli, energy companies Terna and Snam, and luxury yacht maker Ferretti.

Read More @ The Times

Source: Coffee Talk

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