Smeg has acquired fellow Italian company La Pavoni, a manufacturer known for its high-quality professional espresso coffee machines.
In a strategic move for both brands, the acquisition will see the two companies sharing industry know-how, while Smeg says that both firms will “continue to create beautifully-designed products whilst re-enforcing the strength of a ‘Made in Italy’ ethos.”
A statement about La Pavoni from Smeg said: “Competing in a high-end market, the company philosophy combines attention to product quality and care for refined aesthetic – not at all dissimilar to the approach Smeg has for the craftmanship of its own appliances.”
In the transaction, the SMEG Group was assisted by Mediobanca as financial advisor, by Pedersoli Studio Legale as legal advisor and by Deloitte for the aspects of accounting due diligence.
La Pavoni was assisted by Banca Euromobiliare as financial advisor and by Studio Russo De Rosa e Associati as legal advisor.
La Pavoni was founded in 1905, making it the world’s first producer of the modern espresso bar coffee machine.
It produces an extensive line of products for commercial use, including bar models, pub models, café models, been to cup machines and grinders.