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Published on January 8th, 2021 | by The GC Team


De’Longhi gains Nutribullet® and Magic Bullet® brands

The De’Longhi Group has confirmed it has finalised an agreement for the acquisition of Capital Brands Holdings Inc., an American company and global player in personal blenders with the Nutribullet® and Magic Bullet® brands.

The deal for the total value of the California-based business on a cash-free debt-free basis is $421 million, equal to a multiple of the adjusted EBITDA expected for 2020 of just above eight times.

The transaction consideration will be paid by drawing on De’Longhi Group’s existing liquidity reserves.

Capital Brands was founded in 2003 and develops and sells domestic appliances with a focus on wellness & nutrition to households in over 100 markets around the world.

The American company successfully created the personal blenders segment within the broader blender category, becoming the category leader in North America and other key global markets such as Australia, New Zealand and the United Kingdom. The business forecast net revenues of approximately $290 million for the year 2020, ahead of last year sales.

The transaction means the US is to become the largest market for the De’Longhi Group, with aggregate turnover in excess of $500 million.

Massimo Garavaglia, CEO of De’ Longhi, said: “This acquisition is a perfect fit for the De’Longhi Group and is consistent with our objectives of geographical expansion and growth by external lines.

“Moreover, it represents a strategic value from several viewpoints: we add a young and dynamic brand to our portfolio; we enlarge our range of iconic products with an important presence in the blender segment; we increase our penetration in an expanding and strategically important market like the USA; and last, but not least, we strengthen the De’Longhi Group’s leadership in the sector of food preparation.”

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