A Chinese fund is ready to take over the historic Bialetti brand

The ‘Little Man with a Mustache’ brand could become Chinese and have a new life. According to what Corriere della Sera reports, the project is moving towards completion reorganization of Bialetti Industrie the company that invented the moka express. For some time the historic company from Omegna, in the province of Verbania, has been looking for an M&A operation to support the relaunch of the company.

A path in which the company is supported by the advisor Lazard while the shareholders, including the Ranzoni family at the helm of the company, they have the Zulli Tabanelli firm as advisor. According to what emerges, the agreement appears to be nearing completion New Capital, the investment arm of Hong Kong family office Wwic -The World Wide Investment Company, led by Stephen Cheng.

The Hong Kong company is controlled by the PaoCheng family, and the heirs of Herme’s founder, Emile-Maurice. Bialetti Industrie would thus open the team to an investor who has already focused on other companies in the made in Italy: from Venchi and Bending Spoons to Slowear and Scarpa, another historic Italian brand. The fund’s entry aims to enhancement of the company to accelerate the growth plan, particularly abroad. With the completion of the operation, the 2018 refinancing agreement will also be closed through the full repayment of creditors.

In the first nine months of 2024, Bialetti Industrie, listed on Piazza Affari since 2007, achieved consolidated revenues of 104.7 million, up 6%, against a gross operating margin of 15.3 million, and net debts of 91.9 million, data recovering thanks also to the push of new commercial agreements. “The company is in the midst of negotiations and ‘does not provide details’. But it confirms the ongoing procedure at the center of which is ‘the disposal of the entire company or its shareholdings'” reports the newspaper. On the stock exchange Bialetti title gains 3.91% to 0.239 euros per share.