Gruppo Cimbali has established a significant partnership with Slayer (Seattle Espresso Machine Co.), a US manufacturer of hand-crafted expresso coffee machines under the eponymous iconic brand and headquartered in Seattle.
The partnership is part of the Group’s expansion plans and aimed to consolidate Cimbali’s position in the growing specialty coffee segment.
Gruppo Cimbali expects to close 2017 with a turnover of around 180 million euro (+7% over 2016).
Gruppo Cimbali, a leading Italian company in the design and manufacture of professional machines for making coffee and drinks with a fresh milk base, has bought a controlling stake in Slayer, a Seattle-basedmanufacturer of traditional hand-crafted espressomachines with a unique design and innovative patented technological equipment.
“The partnership with Slayer,” Franco Panno, CEO of Gruppo Cimbali explained, “is part of our expansion plans and strengthens the Group’s position in the specialty coffee market, a coffee consumption trend on the rise globally and recently increasing in popularity in Italy too.”
“This partnership will enable Slayer to tap into Cimbali’s expertise, technology and lean manufacturing skill sets and amplify its production efforts to meet global demand. This partnership move was written into my business plan at conception; I simply had to find the right partner”- Jason Prefontaine, Founder and CEO of Slayer.
The partnership, financed entirely by the Group’s own funds, will enable Gruppo Cimbali to expand its portfolio of Brand Champions with a reinforcement in the top-end segment and to consolidate its position in the North American market through its direct presence in Seattle, one of the world’s espresso coffee centres.
Slayer will continue to pursue its own development plan under an independent management team, a separate sales network and within an agreed corporate governance structure. Jason Prefontaine, founder and current CEO, will continue at the helm of the US company, which expects to reach a turnover of around US$ 13 million in the current financial year with a significant growth compared to previous year.
In collaboration with Gruppo Cimbali, Slayer will accelerate its presence on international markets thanks to financial support, optimization of production processes and the benefits of technological and industrial co-operation with the leading player in traditional coffee machines.
Caretti & Associati acted as financial advisor to Gruppo Cimbali in establishing this partnership, with Thomson Coburn and the Gardenal firm being the Group’s legal advisors.
Gruppo Cimbali expects to achieve a turnover of around 180 million euro in 2017 (+7% over 2016), of which 81% comes from overseas sales. The hire of 110 employees (50% of which under 35) over the past 3 years, and leading to a workforce of around 700 employees, well testifies to Gruppo Cimbali’s commitment to growth.
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