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MILAN, Nov 28 (Reuters) – Lone Star investment fund has hired Deutsche Bank to investigate possible sale of Evoca, an Italian company specializing in the manufacture of professional coffee machines, told Reuters on Wednesday Zocchi, managing director of the latter.
He added that several candidates had already submitted bids for the group which, according to an article last month of the daily Il Sole 24 Ore, could be valued at around 1.5 billion euros.
A source close to the case said that five potential buyers had made themselves known at this stage. Evoca's brands include Gaggia, which manufactures equipment for the catering sector, or Necta and Ducale.
The wider coffee sector is in the process of being reshaped, with the $ 7.15 billion (€ 6.3 billion) deal signed between Nestle and Starbucks, Coca-Cola's takeover of Costa cafes for $ 5.1 billion or Lavazza's takeover of the coffee business in Mars for some $ 650 million. (Francesca Landini, Benoit Van Overstraeten for French service)
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