Rancilio acquires majority stake in Egro Coffee Systems

12th June 2008

Italian espresso machine maker Rancilio in early June acquired a further 53% of fully automatic coffee machine manufacturer Egro Coffee Systems, to give it a majority 78% stake in the Swiss company, according to a Rancilio statement.

Under the terms of the acquisition, Rancilio president and CEO Giorgio Rancilio is to take over the management of Egro, while Luca Rancilio takes over the role of chief financial officer of the Swiss firm. The remaining 22% of the Egro business will remain in the hands of the Swiss company’s management, a statement said.

In 2006, Rancilio initially acquired 25% of Niederrohrdorf-based Egro, which has 80 employees, a subsidiary in Germany and a commercial office in Hong Kong.