Breville Group from Australia to acquire Italian based Lelit group
March 12 - 2022
Coffee Geography Magazine
Breville Group announced its business interest to purchase Lelit Group, a coffee machines and other accessories maker based Castegnato, Italy for 113 million euros ($169 million). According to the announcement, half of the price will be paid in cash and half in ASX-listed Breville shares valued at $27.64 per share for the deal and subject to a five-year lock up.
Breville Group Limited or simply Breville is an Australian multinational manufacturer and marketer of home appliances, headquartered in the inner suburb of Alexandria, Sydney. The company's brands include Breville, Kambrook and Ronson. In the UK and Europe the company goes to market as the Sage brand and as the Breville brand in the rest of the world.
Breville will position itself with Italian-made espresso machine and grinder manufacturer, to be able expand its coffee portfolio and give the Italian brand an opportunity to strengthen its presence outside of Europe.
The Australian company was established in 1932, by Bill O’Brien and Harry Norville, who combined their two surnames to form the company name. The company originally manufactured radios before later expanding into kitchen appliances in the 1960s. "The acquisition of LELIT brings together the two great coffee cultures of the world: Italy and Australia," says Breville Group CEO Jim Clayton. "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 its growth and product innovation, while preserving the values that underpin its Italian identity."
Jim Clayton Breville Group CEO
"Breville Group is the ideal strategic partner to support LELIT in its next stage of growth, at the same time enabling us to remain faithful to our Italian heritage and design," LELIT CEO, Emanuele Epis said.
The sales growth of 23.6 per cent for the first half of fiscal 2022 is recorded in February by Breville with total amount of $878.7 million from all regions and categories coffee, cooking and food preparation appliances.