Illycaffè Brushes Off Wall Street IPO Rumors, Calls Report ‘Unfounded’
June 20 -2026
Coffee Geography Magazine
The Trieste-based espresso giant says no decision has been made, despite a newspaper report suggesting a listing by early 2027.
Illycaffè has officially denied a report in the Italian daily La Stampa that claimed the family-controlled coffee company was preparing to list on the New York Stock Exchange by the end of 2026 or early 2027.
In a statement issued Thursday, the company described the rumors as “unfounded” and said they “do not reflect the current state of internal evaluations.” The rebuttal follows a June 17 article in which La Stampa, citing financial and legal sources close to the matter, reported that a decision to accelerate the listing process had already been taken, with Wall Street identified as the target market.
CEO Cristina Scocchia
“As previously communicated, a stock market listing is a strategic option the company has always considered,” said CEO Cristina Scocchia. “An IPO is a unique event in a company’s history, but its success depends on multiple factors, some of which are beyond the company’s control. If and when we decide to embark on this path, we will announce it to the market.”
The newspaper had indicated that illycaffè was working with at least three financial advisors to monitor the most suitable window for a potential public offering. While the company acknowledged the long-term logic of such a move, it stopped short of confirming any timeline.
Executive Chairman Andrea Illy touched on the matter less than a month ago at the Trento Economics Festival. “It’s in the nature of things,” he said, pointing to the presence of private equity fund Rhone Capital among the shareholders and the consequent need for an exit strategy, “sooner or later.”
The denial comes as illycaffè continues to post robust results. The group closed 2025 with revenues of €700 million, up 12% at constant exchange rates and 11% at current rates compared to the previous year, extending a long track record of growth.
Founded in Trieste in 1933 by Francesco Illy, the company remains under family control and today markets its coffee and espresso products in around 140 countries. The group comprises subsidiaries in North America, France, Germany, Spain, and Benelux, and employed 1,188 people worldwide as of 2023.