The deal valued at approximately $420 million dollars comes just two years after Capital Brands was acquired by private equity firm Centre Lane Partners.
Adding the Nutribullet and Magic Bullet assortment of blenders allows DeLonghi to extend its selection of small appliances. DeLonghi currently carries a broad collection of high-end coffeemakers along with food preparation products that include deep fryers, multi-cookers, toaster ovens and indoor grills.
Additionally, DeLonghi also sells a number of coffee and food preparation products under the Braun brand.
“This acquisition is a perfect fit for the DeLonghi Group and is consistent with our objectives of geographical expansion and growth by external lines,” said Massimo Garavaglia, CEO of DeLonghi. “It also represents a strategic value from several viewpoints, such as increasing our penetration in an expanding and strategically important markets like the United States.”
Following Centre Lane’s acquisition of Capital Brands in the back half of 2018, the company under the leadership of its CEO Rich Krause spent the following two years working to give the Nutribullet and Magic Bullet brands much-needed updates. This effort has included the launch of new products under both brands, a redesign of product packaging and a more aggressive consumer-direct marketing campaign.
Today, products from DeLonghi, Nutribullet and Magic Bullet can be found on the shelves and webpages of several leading retailers such as Amazon, Target and Bed Bath & Beyond.
“We are very pleased to be joining the DeLonghi Group and to have the opportunity to align our strong brands with theirs,” said Krause. “We are excited about the future growth opportunities that we will be able to exploit in the U.S. and internationally with the support of our new shareholder.”