De’Longhi will acquire Nutribullet parent company, Capital Brands, in a deal valued at circa $420 million, which is expected to be finalised before the end of 2020.
A statement from De’Longhi Italy shared with Appliance Retailer read: “De’Longhi has reached a definitive agreement to acquire Capital Brands Holdings Inc, a global leader in the personal blenders segment with the Nutribullet and Magic Bullet brands.”
Capital Brands, which was founded in 2003 in Los Angeles, California, develops and sells domestic appliances with a focus on wellness nutrition to households in over 100 markets worldwide. The company claims to have market leadership in the personal blenders segment – estimated to be worth up to $1.1 billion in the US – in North America, Australia, New Zealand and the UK.
“With this transaction, the US will become the largest market for the De’Longhi Group with aggregate turnover in excess of $500 million.
De’Longhi CEO, Massimo Garavaglia said the acquisition is a perfect fit for the Group and is consistent with its geographical expansion and growth objectives.
“Moreover, it represents 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 US; and we strengthen the De’Longhi Group’s leadership in the food preparation sector.”
Capital Brands CEO, Rich Krause said: “We are very pleased to be joining the De’Longhi Group and to have the opportunity to align our strong brands with theirs. We are excited about the future growth opportunities that we will be able to exploit in the US and internationally with the support of our new shareholder.”