De Longhi boosts ownership stake in La Marzocco professional division to 88 percent

Italian appliance manufacturer De Longhi Group has paid 662.5 million euros, equivalent to 744 million dollars, to increase its ownership stake in its professional coffee division from approximately 61 percent to 88.02 percent, Daily Coffee News reported on October 23. The transaction completed on October 16. [1][2]

The division comprises espresso machine manufacturers La Marzocco and Eversys. Daily Coffee News reported that the deal represents the acquisition of an additional 26 percent stake in the combined professional unit rather than a direct new purchase of either individual company. [1]

De Longhi stated that revenue for the professional coffee unit has increased by more than 50 percent since the combination was first announced in 2023. As FTMQ Food reported earlier, the combined division generated 489.1 million euros in revenue last year following its initial 1.4 billion dollar combination in December 2023. The unit is valued at 2.3 billion dollars and provides around 25 percent of the De Longhi group profit. [1][6]

De Longhi is based in Treviso, Italy. La Marzocco was founded in Florence in 1927 by Giuseppe and Bruno Bambi, and is now based in Scarperia, Italy. La Marzocco patented the horizontal boiler espresso machine in 1939 and introduced the dual boiler system through its GS series in the 1970s. [3][4][5]