Australian multinational Breville Sage has just acquired Brescia-based Italian espresso equipment company Lelit for approximately €113 million (roughly $124 million USD).
A brand of Gemme Italian Producers srl, Lelit was founded by the Epis brothers in 1986. Breville Sage acquired 100% of the Lelit group in cash and shares. Just two years ago Lelit’s managing director Emanuele Epis was discussing further expansion overseas after having taken on more staff and one Brescia newspaper described the sale as “un gran colpo” (a big blow) for the brothers.
However, Brescia-based manager Marco Gafforini was more upbeat, explaining on his Facebook page that they had chosen Breville Sage “because it has a corporate culture incredibly close to our own: informal, goal oriented, and highly skilled.”
The founders and some of the management team from Lelit will join the Breville Group once the sale, scheduled for July 2022, is completed.
Breville CEO Jim Clayton said in an interview on Channelnews that the acquisition “brings together the two great coffee cultures of the world: Italy and Australia.”