Moka Pot Maker Gets Needed Money
Moka Express coffee pot
ITALY
Bialetti Industrie S.p.A., maker of the iconic Italian Moka Express coffee pot, recently signed an agreement with Och-Ziff Capital Investments, LLC, to provide as much as €40 million (about $45 million) and help restructure the company.
The signed term sheet was filed Oct. 10 in an Italian court in accordance with the nation’s company rescue laws. Bialetti then asked the Court of Brescia on Oct. 29 to approve the issuance of a first bond valued at €17 million. Bialetti is headquartered in Brescia, 100 kilometers east of Milan.
While known for the stovetop espresso pot commonly seen in Italian kitchens for decades, Bialetti also produces a variety of other housewares including electric coffee makers and espresso machines as well as cooking utensils and kitchen accessories under the Aeternum and Rondine brands.
“The guidelines of the business plan include that Bialetti focuses on strengthening its positioning in the coffee business, which is continuing to grow,” the company said in a statement. “Specifically, in the first half of 2018, the group grew in that sector by 13.1% in revenues relating to the sale of ground coffee capsules, and by 6.8% in sales of Moka express coffee makers, taking fourth position in Italy in the capsule segment, with rising sales by value – overall – of 15%.”