Household coffee machine giant De’Longhi Group has taken its first steps into the commercial market by acquiring a 40% stake in Eversys Group.
The deal includes a two-way option whereby the remaining 60% will be transferred to De’Longhi within the next two to four years.
Switzerland-based Eversys specialises in the engineering, manufacturing and sales of fully automatic espresso machines, designed for professional kitchens and restaurants.
The company was only founded eight years ago, but achieved sales of £14m last year and employs 51 staff.
In contrast, the Italian De’Longhi Group is a leading stock-listed manufacturer of household appliance products and is the global market leader for consumer coffee machines.
Its turnover reached €1.85 billion (£1.57 billion) last year and its workforce numbers more than 7,100 staff globally.
The investment mark’s De’Longhi entrance into the professional espresso coffee market, with a focus on the fully automatic machines segment.
“Eversys brings a wealth of technology, a management team with proven experience in the sector and the ambition to become a leading player in the global professional coffee market,” explained Fabio De’Longhi, vice-chairman and CEO of the De’Longhi Group. “This partnership is also driven by the technological, industrial and distribution synergies, which De’Longhi is able to assure.”
Eversys was formed with the intention of bridging the gap between traditional Italian coffee equipment and the speed and electronic intelligence of super automatic machines. Its clients include coffee shops, restaurants, and contract caterers.
Eversys will continue to operate as a strategically separate entity, led by the previous management team and remaining located in the Region of the Valais, in Switzerland.
Martin Strehl, chairman and delegate of the board of Eversys, said: “For Eversys the partnership with De’Longhi creates a significant potential of synergies, which will contribute to accelerate and secure our ambitious development plans. In addition, it offers the midterm possibility for the founders and current shareholders to resolve their succession strategy.”
The closing of the transaction is expected before mid-July 2017. The value of the deal was not disclosed.