French conglomerate Groupe SEB has announced it is acquired a 100% stake in family-run Italian espresso machine maker La San Marco.
Based in the town of Gradisca D’isonzo in the northeastern Italian region of Friuli-Venezia Giulia, La San Marco currently has 94 employees and pulled in revenue of nearly €19.7 million in 2022, according to SEB.
Founded in 1920, the Italian company offers a broad range of traditional and lever-driven espresso machines alongside grinders and accessories. It is best known for its innovations in lever technology, as applied to various commercial machines.
Until the SEB acquisition, La San Marco was majority-owned by Italy’s Massimo Zanetti Beverage Group (MZBG), the owner of numerous coffee roasting brands such as Boncafé, Hills Bros and Segafredo.
The financial terms of the acquisition have not been announced.
The deal represents SEB’s first major play in the traditional espresso machine category.
“We are delighted to acquire La San Marco, which will enable Groupe SEB to consolidate its activities in the professional coffee machine segment with recognized historic expertise and a genuinely complementary fit with our existing range,” Groupe SEB Chairman Thierry de La Tour d’Artaise said in an announcement of the deal. “This transaction is in line with the Group’s desire to accelerate development in the professional universe, a market enjoying strong and profitable growth.”
In 2019, SEB acquired United States-based commercial brewing equipment manufacturer Wilbur Curtis for an undisclosed amount.
SEB also owns the home coffee accessory brand Krups and the Swiss fully automatic espresso machine brand Schaerer. Beyond coffee, the French group holds more than two dozen brands internationally that specialize in cookware or appliances for home and commercial applications.
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Nick Brown is the editor of Daily Coffee News by Roast Magazine.