Deal first announced in March 2021 is finalised, with DeLonghi acquiring the remaining 60% stake in Eversys in addition to the 40% purchased in 2017
A limited edition Cameo X espresso machine launched by Eversys in November 2019 | Photo credit: Eversys
Italian appliance manufacturer and coffee equipment specialist, De'Longhi Group, has completed the acquisition of Swiss super-automatic espresso machine maker, Eversys.
The deal, which was completed following the authorisation of antitrust bodies and the fulfilment of conditions, takes the form of the acquisition of the remaining 60% stake in Eversys, which adds to the 40% acquired by De'Longhi in June 2017.
In a press release, De’Longhi confirmed the remaining 60% stake was purchased for CHF 110m ($120.4m), bringing the total value of the acquisition to CHF 150m ($164m).
De’Longhi has emerged in a strong position from the pandemic, with sales of its home coffee and kitchen appliances surging amid Covid-19 lockdowns globally. Highlighting the at-home coffee boom during the last 12 months, full-year profits at the Swiss firm rose 24.3% to €200.1m ($237m) in 2020.
Founded in Sierre, Switzerland, in 2009, Eversys specialises in operating, engineering and marketing professional espresso coffee machines, with a specific focus on fully-automatic technology. In May 2020 Eversys opened a new Swiss production facility that will enable the company to produce 15,000 coffee machines per year.
Eversys reported sales of CHF 17m ($18.6m) in 2016 and achieved consolidated revenues of CHF 65m ($71.2m) in 2020.