Australian appliance manufacturer says the acquisition will complement its existing prosumer coffee business while enabling Lelit to strengthen its presence outside of Europe
Lelit Group designs manufactures and markets prosumer coffee machines and grinders | Photo credit: via Shutterstock
Australia’s Breville Group has announced that it will acquire Italian espresso machine manufacturer Lelit Group for approximately €113m ($124m). In a press release, Sydney-headquartered Breville said it expected the deal to be completed by early 2022 following a pre-acquisition re-structure of the Lelit Group.
Founded in Castegnato, Italy, in 1985, Lelit Group designs manufactures and markets prosumer coffee machines and grinders in Europe and around the world.
“The acquisition of Lelit brings together the two great coffee cultures of the world: Italy and Australia. Both companies have a shared passion for using product innovation to improve our customers’ coffee experience at home, and we look forward to working alongside Lelit and its existing partners to further accelerate this growth and product innovation, while preserving the values that underpin its Italian identity,” said Jim Clayton, CEO, Breville Group.
Lelit Group CEO, Emanuele Epis added: “Breville Group is the ideal strategic partner to suppprt Lelit in its next stage of growth, at the same time enabling us to remain faithful to our Italian heritage and design. We look forward to leveraging Breville’s global platforms, capabilities and infrastructure to further strengthen our success on a global scale.”
Key members of the Lelit Group management team, including the business’ founder, have agreed to join the Breville Group.
The acquisition will further strengthen Breville’s presence in the prosumer coffee equipment market after it acquisition of US grinder maker Baratza for $60m in October 2020. Combined, the brands would create an increasingly strong presence in the specialty coffee channel for Breville, the company said.