The legendary Bialetti now belongs to China – DiePresse.com

Hardly anything is as closely connected to Italian identity as coffee-and hardly any object is as symbolic of it as the Moka jug from Bialetti. If you believe Italian nonnas and urban coffee hipsters, the perfect coffee only succeeds in a bialetti. According to studies, she was temporarily in nine out of ten Italian households. The iconic jug has been a World Heritage Site since 2013.

The octagonal mocha jug has long been a cult object. Economically, however, the Bialetti company had to struggle again and again. Now it is again at a turning point. As the listed company announced on Wednesday, the Investment Fund Nuo Capital, which is Chinese controlled, is entering the company. The new owner takes over a 78.5 percent participation from the current majority shareholder Francesco Ranzoni. The company value is estimated at around 30 million euros. However, the debts are 124 million euros. The company is also behind the Italian tax authorities with tax payments. In the course of the takeover, Bialetti from the Milan stock exchange be taken.