Breville group growing with acquisitions

Breville Group, a global appliances company, has acquired Lelit Group, an Italian specialty coffee company. The deal will help expand its presence in the premium home coffee market.
Breville Group has agreed to acquire Lelit, a maker of high-end coffee machines. The deal is valued at about A$60 million ($42 million).
Breville shares fell about 3 percent on Friday. However, they recovered some of their losses to end the day at $26.24.
The Lelit Bianca, which is a high-end coffee machine made by Lelit, is one of the products that the company has acquired.
The acquisition will be funded through the cash portion of the company’s balance sheet and debt facilities. Lelit’s management team will also join Breville.
The company was established in 1985 in Italy by Edoardo Epis. It initially focused on making ironing systems and later added the production of coffee machines.
Breville said the acquisition of Lelit will allow Breville to expand its presence in the specialty coffee market. It will also help Lelit expand its operations outside of Europe.
Both companies share a passion for developing new products that will improve the coffee experience at home. Breville and Lelit will work together to expand the company’s reach and accelerate its growth.
Lelit said that joining forces with Breville will allow the company to continue developing new products that will enhance the coffee experience at home.
In February, Breville reported a 23.6 percent increase in its sales for the first half of fiscal 2022. The company attributed the growth to the strong consumer demand for its various products, such as coffee machines and food preparation appliances.
The company’s strong performance boosted its bottom line by 25.1 percent to $77.7 million. It also increased its interim dividend to 15 cents a share from 13 cents.
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