The De’Longhi Group, formerly a minority shareholder of Eversys, has reached an agreement to take over the total control of the Swiss super automatic coffee machine manufacturer.
The amount agreed for the remaining 60 per cent stake is around CHF 110 million (about US$118 million), which brings the total value of the acquisition to approximately CHF 150 million (about US$160 million).
The Eversys Group, founded in 2009 and based in Sierre, is operating in the engineering and marketing of professional espresso coffee machines, with a specific focus on full-automatic models, for which the company has developed a highly innovative technology that ensures a positioning at the high end of the reference sector.
Eversys, which in 2016 reported sales of circa CHF 17 million (about US$18 million), achieved consolidated revenues in 2020 around CHF 65 million (about US$70 million). This remarkable growth was made possible thanks in part to a strong collaboration established in recent years with the De’ Longhi Group, which offered financial support, industrial know-how, and distribution structures, all essential factors for strengthening the future development plans. Furthermore, in 2020, Eversys inaugurated a new state-of-the-art production plant in Switzerland.
“We are excited about our new important step in the world of coffee. At Eversys we admire the passion for excellence, quality and the strong ability to innovate, values that guided the founders Jean Paul In-Albon and Robert Bircher in the realization of their dream,” says Massimo Garavaglia, CEO of De’ Longhi.
“All elements that we share and which have been the engine of the collaboration developed since the beginning and which will continue to be the basis of our common future projects “.
The closing of the transaction, subject to the approval of the antitrust authorities, is expected within the first half of this year.