Smeg has acquired La Pavoni, a historic Italian company known for its production of quality professional and domestic espresso coffee machines.
Founded in 1905 and based in Milan, La Pavoni was said to be the world’s first producer of the modern espresso bar coffee machine.
La Pavoni’s history is marked by important collaborations with respected architects and designers, among these is Italian architecture and industrial designer Giò Ponti.
Competing in a high-end market segment, the company philosophy combines attention to product quality and care for refined aesthetic – which Smeg believes is similar to its approach to creating and designing its own appliances.
In a strategic move for both brands, the acquisition is aimed at seeing the two companies sharing industry know-how and continuing to create well 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.