illycaffè announces closing of strategic investment by Rhône Capital
TRIESTE, NEW YORK AND LONDON – 25th February, 2021 – In accordance with the agreement signed on November 21st 2020, illycaffè S.p.A., announced today the completion of the sale by Gruppo Illy of a 20% stake of illycaffè S.p.A., a leading global premium coffee brand, based in Trieste, Italy to affiliates of Rhône Capital (together with its affiliates, “Rhône”), a global private equity firm with a focus on investments in businesses with pan-European, North American or transatlantic presence.
illycaffè chose Rhône as its strategic partner to lead the Company into its next phase of international growth, particularly in the US. The partnership with Rhône represents another key milestone to further strengthen the Company’s platform and provide resources to execute the long-term plans for the business, which could include a potential future listing.
Olga Bologna - Corporate Finance & Financial Communication (firstname.lastname@example.org)
Violante Avogadro - Corporate Communication (email@example.com)
Alex Yankus / Harry Mayfield (US)
T: +1 (917) 818-5204 / +1 (917) 200-1539
Elisa Lavagna (Italy)
T: +39 346 94 47 907
illycaffè is an Italian family business, founded in Trieste in 1933 and committed to offering the greatest coffee to the world. illy is the world's most global coffee brand, producing the unique illy 100% Arabica blend made of 9 of the world ‘s best selections of Arabica; each day more than 8 million cups are consumed in over 140 countries in the finest cafés, restaurants, hotels and in offices and homes. illy has become the standard forerunner of espresso, and thanks to three critical innovations, is considered the leader in the science and technology of coffee. With the bestowing of the first “Ernesto Illy Award for quality espresso coffee” in 1991 in Brazil, illy also pioneered direct sourcing, sharing know-how and paying a premium price for the best quality, based on partnerships underwritten by the principles of sustainable development. The company also founded its University of Coffee with the aim of fostering and spreading its culture, providing comprehensive academic and hands-on training for coffee growers, baristas and coffee lovers in order to cover every aspect of the product.
Everything ‘made in illy’ is enhanced by beauty & art, which represent founding values of the brand, starting from its logo – designed by an artist, James Rosenquist – and including the renowned illy Art Collection, comprised of over 100 cups designed by international artists. In 2019 the company was employing 1,405 people and posted consolidated revenues of €520,5 million. There are 269 stores and monobrand illy shops in more than 40 countries.
Rhône, established in 1996, is a global private equity firm with a focus on investments in businesses with pan-European, North American or transatlantic presence. Rhône’s investment philosophy includes the development of strong, strategic partnerships with the companies in which it invests. Rhône has a strong history of working with family-owned businesses and operates across its London, New York and Madrid offices. Rhône has invested in a diversified portfolio of companies including investments in the business services, consumer, and industrial sectors.