There mocha Most iconic in Italy, the first ever, the one with the Baffuto man who has gone around the world, changes the flag. Bialetti, A company symbol of Italian coffee, it was sold to the Luxembourg Fund Nupe Capital, controlled by the very rich Chinese family Pa-Ceng. A news that has made people discuss and that represents, for many, yet another piece of the “made in Italy” that ends up under foreign control.
A little history of Bialetti
Bialetti was born in 1933 thanks to the intuition of Alfonso Bialetti, which transforms a simple idea – inspired by the way the women of Omegna boiled the role – in an object that everyone must have at home, at least in Italy. To make the Moka famous is the son Renato, with brilliant advertising and the birth of the famous little man of Carosello.
In 1998 the company blends with the Rondine group of the Ranzoni family, with the aim of expanding also in other kitchen segments. The apex arrives in 2007 with the quotation on the stock exchange, but the euphoria does not last long: the initial price (2.5 euros per share) will prove to be inflated from an error in the budget data. From there begins a long descent.
A slow and deep crisis
Over time, the competition has become increasingly fierce, the tastes of consumers have changed, and the company began to accumulate debts. In 2018 the first renovations arrive and, in recent years, the choice to refocalize only on the world of coffee has led to a slight recovery. But the numbers remain in red: in 2024 the loss was 1.1 million euros.
In this context, the agreement is inserted with new capital, a base with basemburg base but with well -planted roots in China. At the head of the bottom there is Stephen Cheng, grandson of the founder of the giant World-Wide Shipping, and already active in Italy with investments in brands such as Venchi, Scarpa and Bending Spousions.
The operation will be divided into several phases: Nucer will initially acquire 59% of the Bialetti shares for about 47.3 million euros, which will be followed by the purchase of a further 19.5% for 5.7 million. In total, the control will rise to 78.5%, with the declared objective of launching an Opa to detect 100% of the shares and bring the company out of the Milan stock exchange.
The acquisition seems to be a necessary move to face the company’s financial crisis. As part of the agreement, Bialetti will receive an injection of liquidity: up to 30 million from Illimity Bank and Amco Asset Management, and another 45 million from a pool of Italian banks including Banco Bpm, Bper and Banca Ifis. To these are added 49.5 million placed directly by Nuch Octagon, which will serve to reduce debt and guarantee operational continuity.
Francesco Ranzoni, current president of Bialetti Industria, defined the sale “a strategic lever to strengthen the brand and consolidate their positioning on foreign markets“. But many do not hide the fear that another symbol of Italianity can lose its soul.
Of course, the new owner professes himself a lover of Italian style and is not new to long -term investments in symbolic companies. But it remains to see if Bialetti will really be able to relaunch herself without giving up its identity, or if it will end up becoming a globalized product.
