LONDON, Feb. 26, 2021 /PRNewswire/ -- 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.
Rhône was chosen for its ability to contribute to illy's international footprint expansion, particularly in the US, and will serve as a resource to further strengthen the Company's platform in executing its growth plans. The partnership with Rhône represents another key milestone on the path to firmly establishing illycaffè as a management-led company underpinned by the continued solid strategic vision of the family. This strategic decision will further solidify the global leadership position of illycaffè and complement the generational transition that has already begun with the appointment of the fourth generation of the Illy family to the Board of Directors, who enthusiastically approved this new partnership.
Interview opportunities with:
Massimiliano Pogliani CEO of illycaffè
Andrea illy, Chairman of illycaffè