The Italian brand Bialetti has finalised a deal to transfer 78.6% of its shares to NUO Capital which is based in Luxembourg and owned by Stephen Cheng from Hong Kong. The transaction which has been valued at €53 million (£46m) should finalise by the end of June creating an important milestone for the historic brand.

A Storied History

Since its inception in 1933 by Alfonso Bialetti in Piedmont, Italy, the Bialetti brand became an integral part of Italian coffee culture. The moka pot brought espresso coffee to domestic settings because of Alfonso’s engineering creativity and this aluminium device became popular for its low cost and stylish octagonal shape. The Bialetti moka pots stand as cultural icons despite the fast-paced changes in the coffee world. Research from 2010 showed that Bialetti moka pots were present in 90% of Italian homes.

Through Renato Alfonso’s initiative the company established “the little man with a moustache” as a lasting emblem of their brand. The innovative vision of Renato allowed him to transform the moka pot into a universally recognised icon. Renato received his final resting place inside a massive moka pot following his death in 2016.

Challenges in a Modern Market

Even though Bialetti's moka pots represent traditional craftsmanship, the company has experienced substantial financial difficulties throughout recent years. The company faced financial difficulties due to rising competition from capsule coffee makers and failed investment choices which led them into a kitchen utensil market that lacked customer interest while pandemic-related sales disruptions worsened the situation.

The company reported both a €1.1 million loss and €81.9 million in accumulated debts by 2024. Bialetti survived these challenges but faced 2025 as a company that required immediate decisive actions to ensure its future.

The Deal with NUO Capital

Stephen Cheng from one of Hong Kong's wealthiest families leads NUO Capital which is registered in Luxembourg and is planning to gain majority ownership of Bialetti. The firm will initiate a tender offer for Bialetti's outstanding shares at minimum €0.467 each after purchasing 78.6% of its stock. The transaction includes plans to delist Bialetti from Milan stock exchange to facilitate the transition process.

Egidio Cozzi who currently serves as Bialetti's CEO will keep his executive position after the acquisition. The acquisition represents an essential moment for brand revitalisation according to Cozzi. He expressed optimism about the company's future and claimed Bialetti now possesses greater solidity alongside a distinct strategic direction and worldwide brand recognition.

Broader Implications

The deal unfolds within the context of intricate geopolitical challenges. The prime minister of Italy Giorgia Meloni has been carefully managing her country's sensitive diplomatic relations with China. Italy decided to exit China's Belt and Road Initiative because it wants to adjust its diplomatic relationship with Beijing. Meloni works to strengthen ties with the United States which might provoke questions about Chinese investments in significant Italian brands.

The investment made by NUO Capital illustrates the increasing trend of Chinese companies buying Western heritage brands. The "golden powers" regulations in Italy which examine foreign acquisition deals might impose conditions on this transaction though no obstacles have been identified yet.

What’s Next for Bialetti?

The Bialetti brand maintains worldwide respect despite difficulties because its reputation is closely linked with Italian coffee traditions. NUO Capital’s leadership offers opportunities for expedited worldwide growth together with product line rejuvenation through its combination of existing heritage and new resources.

Bialetti's current phase demonstrates complexity but also reveals potential for transformation in a fierce market environment. The brand can maintain its global household staple status through the proper combination of traditional values and modern advancements.

Coffee enthusiasts together with heritage brand lovers will watch with anticipation as this Italian icon progresses into its future stage.