by InTrieste
The Italian company behind the iconic Moka coffee pot — a symbol of postwar Italian design and a staple in households across the country — is about to change hands.
Nuo Capital, an investment fund led by Chinese businessman Stephen Cheng, announced on Wednesday it had signed a deal to acquire a controlling stake in Bialetti, the century-old coffee company. The agreement marks a significant turning point for one of Italy’s most recognizable “Made in Italy” brands, as it grapples with shifting market trends and mounting financial pressures.
Under the terms of the deal, the Luxembourg-based fund will purchase 78 percent of Bialetti’s shares, a majority holding that will allow it to reshape the company’s future. Nuo Capital said it intends to finalize the acquisition by the end of June, after which it will launch a mandatory public tender offer for the remaining shares — a move aimed at delisting the company from the Milan stock exchange.
The offer price is expected to be no less than €0.467 per share.
Founded in 1919, Bialetti is best known for its aluminum stovetop Moka pot, an invention that revolutionized home coffee-making and helped define Italian coffee culture. But despite its enduring place in Italian kitchens, the company has struggled in recent years with changing consumer tastes and the rise of single-serve capsule coffee machines. In 2021, it was forced to restructure its debt as financial losses mounted.
The acquisition involves two separate transactions. The first — a €47.3 million deal for 59 percent of shares — is with Bialetti Investimenti and Bialetti Holding, both controlled by current chairman Francesco Ranzoni. The second, valued at €5.7 million, secures an additional 19.6 percent from Sculptor Ristretto Investment.
“Bialetti represents a significant and wonderful challenge for us, placing us in front of new growth objectives for a historic brand of Italian culture and tradition,” said Nuo Capital CEO Tommaso Paoli in a statement.
While some observers see the move as a lifeline for the ailing brand, others view it as a sign of the shifting global landscape for heritage companies in Italy, many of which have struggled to maintain independence in an increasingly competitive market.
Whether Nuo’s backing will revive Bialetti’s fortunes remains to be seen — but for now, the future of Italy’s beloved Moka pot lies firmly in foreign hands.
