De'Longhi S.p.A. (0E5M.IL)

De' Longhi teams up with La Marzocco to boost coffee machine business

Italian home appliance maker De' Longhi has agreed to buy from its parent company a stake in high-end espresso machine manufacturer La Marzocco as it bets on coffee to pep up growth. Milan-listed De' Longhi will spend $374 million to acquire 41.2% of La Marzocco from De' Longhi Industrial, its parent company, as well as from other minority shareholders, to create a hub with its existing Eversys coffee machine-making operation.