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De' Longhi: new global coffee machine hub is born

Agreement with Eversys and La Marzocco for a total outlay of 374 million dollars

The operation rewarded with +3% on the stock market.

From the business combination between De' Longhi on the one hand, Eversys and La Marzocco on the other, a center of international importance in the coffee machine segment was born. The operation involves the creation of a new corporate structure controlled by De Longhi, with the contribution of Eversys, alongside the acquisition of approximately 41.2% of La Marzocco International, both from De Longhi Industrial and from minority shareholders, for a total cash outlay of 374 million dollars. The remaining shares will be contributed to the new corporate structure by the shareholders.

On the basis of the agreements, the De' Longhi group will hold approximately 61.4% of the new hub, while minority shares will be held by De' Longhi Industrial (26.6%) and by the current minority shareholders of La Marzocco (approximately 12%).

The total net cash outlay expected by the De' Longhi Group for the acquisition of the shares from De Longhi Industrial and the minority shareholders of La Marzocco is approximately 374 million dollars, of which 200 million (for 22% of La Marzocco) to De Longhi Industrial and 174 million (for 19.2% of La Marzocco) to the minority shareholders to be paid upon completion of the operation, i.e. within the first quarter of 2024. The sum will be covered entirely with owned by the De' Longhi Group, which as of 30 September 2023 reported a positive Net Financial Position of 326 million euros and gross liquidity and financial assets of 1.246 billion.

The operation was rewarded on the Milan Stock Exchange where the stock rose by 3% to 3.6 euros with a capitalization of over 4.6 billion.

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EFA News - European Food Agency