Bialetti Acquired by Chinese-Owned Nuo Capital for €53M, to Delist from Milan Stock Exchange

Bialetti, the iconic Italian maker of the Moka coffee pot, has been acquired by Nuo Capital, a Luxembourg-based investment fund controlled by Chinese tycoon Stephen Cheng of the Hong Kong's Cheng family, known for owning World Wide Shipping. The deal involves the purchase of 78.56% of Bialetti's capital for approximately €53 million, with €47.3 million for 59% from Bialetti's parent companies and €5.7 million for 19.56% from Sculptor Ristretto Investment. Following the acquisition, Bialetti will be delisted from the Milan stock exchange after a tender offer for the remaining shares at no less than €0.467 per share. The transaction is expected to close by the end of June 2025, subject to regulatory approval. Founded in 1933 by Alfonso Bialetti, the company has faced financial difficulties due to competition from capsule coffee machines. A 2010 study indicated that 90% of Italian households owned a Bialetti coffee maker.