Smeg acquires historical Italian coffee company
Founded in 1905 and based in Milan, La Pavoni was the world’s first producer of the modern espresso bar coffee machine. From this time onwards, ‘espresso’ became a synonym for tasty and strong Italian coffee. As such, La Pavoni has established itself the number one producer of espresso coffee machines through the careful design of high-quality products.
La Pavoni’s successful history is marked by important collaborations with highly respected architects and designers, among these is Giò Ponti, one of the Italian masters of architecture and industrial designer.
In a strategic move for both brands, the acquisition will see the two companies sharing industry know-how and continue to create beautifully-designed products whilst re-enforcing the strength of a ‘Made in Italy’ ethos.
In the transaction, the SMEG Group was assisted by Mediobanca as financial advisor, by Pedersoli Studio Legale as legal advisor and by Deloitte for the aspects of accounting due diligence. La Pavoni was assisted by Banca Euromobiliare as financial advisor and by Studio Russo De Rosa e Associati as legal advisor.