The Swiss super automatic espresso machine manufacturer has acquired the remaining 49% in Eversys UK Limited, established in 2019 under the leadership of Managing Director Deryck Gaffney
Sierre-based Eversys has purchased the remaining 49% of shares previously held by its UK subsidiary | Photo credit: Eversys
Swiss super automatic espresso machine manufacturer Eversys has fully acquired its Eversys UK Limited subsidiary.
Sierre-based Eversys purchased the remaining 49% of shares previously held by local management, a move it said was agreed when Eversys acquired a 51% stake in the subsidiary in July 2019.
The Eversys UK Limited team is responsible for the sales and service of Eversys coffee machines in the UK and Ireland. It employs around 50 staff and will remain under the leadership of current Managing Director Deryck Gaffney.
“With the sale of our shares in Eversys, we have reached an important stage for us and are motivated to continue contributing to the development of the dynamic and successful Eversys Group,” Gaffney said.
In May 2021, Italian coffee machine and appliance manufacturer De’Longhi completed its acquisition of Eversys for CHF 150m ($164m)
, purchasing the remaining 60% stake in the business to add to the 40% it acquired in June 2017.
Despite group revenues falling 18% to €602.4m ($658m) in its first quarter
, De’Longhi anticipates further growth for its professional coffee category following a ‘strong positive trend’ of Eversys sales during the period.