The De’ Longhi group recently reached an agreement that will give it full control of the Swiss Eversys, of which it was already a minority shareholder. In June 2017 the Italian company had in fact acquired a 40% stake in the Swiss group.
In order to get the remaining 60%, Giuseppe and Fabio De’ Longhi, respectively president and vice president of the Treviso-based company of the same name, will have to pay their company the “modest” sum of 110 million Swiss francs (corresponding to 99.5 million euros). By doing so, the total value of the acquisition will amount to 150 million Swiss francs, that is 135.68 million euros.
“We are excited for this new important step in the world of coffee. What we admire about Eversys is the passion for excellence, the quality and the strong ability to innovate, which are the values that guided the founders Jean Paul In-Albon and Robert Bircher in realizing their dream. Those are all elements that we have in common and which have been and will be at the basis of our collaboration and future projects” commented Massimo Garavaglia, De’ Longhi CEO.
The Eversys group, which was founded in 2009 by Jean-Paul In-Albon and Robert Bircher and which is based in Sierre, in the Canton of Valais, is active in the design and marketing of professional espresso coffee machines. In particular, it specializes in super-automatic models, for which it has developed highly innovative technologies that allow it to be positioned in the high-end sector. Before starting the long and fruitful collaboration with De’ Longhi, Eversys had a turnover of 17 million Swiss francs (according to the numbers declared in 2016). Earnings quadrupled in 2020 with consolidated revenues equivalent to 65 million Swiss francs (almost 59 million euros).
Over the years, in fact, De’ Longhi has offered financial support, but also industrial skills and distribution structures, which have proved to be the key elements for strengthening future development plans. As evidence of the success of this collaboration, in 2020 there was also the inauguration by Eversys of a new cutting-edge production plant in Switzerland.
However, the climb to success of the Italian group is not limited only to the European scenario, but it also aspire to go overseas. In 2020, the Italian company actually acquired the American Capital Brands Holdings, mother of the Magic Bullet and Nutribullet blenders, bought for 420 million dollars. Garavaglia himself had indicated the acquisition as a transaction with a strong strategic value that would strengthen the “leadership of the Group in the food preparation sector”. Meanwhile, with its latest move, De’ Longhi gained 3.44% on the Italian Stock Exchange.