Elba, part of De’ Longhi Group, develops, manufactures and markets a wide range of semi-professional stainless-steel cooking appliances. Elba exports innovative Italian design to over 50 countries worldwide. Having started with the “Elba” brand, the company boosted growth by introducing the “Dé Longhi” and “Kenwood” brands to cooking appliances with total revenues of € 83,9 million in 2005.
Fisher & Paykel, listed on the New Zealand and Australian Stock Exchanges, designs, manufactures and markets a range of innovative household appliances. Consolidated turnover in excess of € 600 million in 2005.
With the acquisition of Elba, Fisher & Paykel achieves strategic growth in Europe and considerable synergies. The divestiture is in line with Dé Longhi’s strategy to concentrate on core business. Elba’s brands and production excellence were the key factors to Fisher & Paykel’s winnig bid.
Cross Border, acted as exclusive advisor to De’ Longhi Group in the selling process. We originated the transaction, assisted in negotiations and, leveraging on our global reach, identified the most motivated buyer, maximising shareholder’s value.