Bialetti, the Italian brand associated with the Moka Express since 1933, did change hands in 2025. The familiar headline that it was “sold to China”, however, removes important context. The buyer was Octagon BidCo S.p.A., a vehicle belonging to NUO, an investment group established in Milan and backed by capital from international entrepreneurial families. It was not a purchase by the Chinese state.
According to Bialetti’s announcement of 5 June 2025, Octagon BidCo initially acquired 78.567% of the share capital and 78.650% of voting rights, then launched a mandatory offer for the remaining shares. Final results published by CONSOB show that the bidder reached 96.431% of the capital after the offer. A squeeze-out followed, and Bialetti’s shares were removed from Euronext Milan on 7 August 2025. Reuters had reported that the two original purchase agreements were worth approximately EUR 53 million.
For coffee drinkers in Switzerland, the useful question is therefore not whether the Moka Express will suddenly disappear. It is what new ownership may eventually mean for the range, materials, spare parts, prices, distribution and stewardship of the brand.
What is confirmed #
| Point | Confirmed position |
|---|---|
| Control | Octagon BidCo, part of the NUO group, took control on 5 June 2025. |
| Initial stake | The first transaction covered 78.567% of Bialetti’s capital. |
| Listing | The mandatory offer and squeeze-out were completed; Bialetti has been delisted since 7 August 2025. |
| Management | Egidio Cozzi was confirmed as chief executive officer. |
| Debt | The closing announcement said refinancing reduced consolidated debt from about EUR 98.6 million to about EUR 44.1 million. |
| Identity | NUO stated that it intended to support international growth while preserving the brand’s Italian cultural identity. |
Bialetti also said the transaction included at least EUR 49.5 million in equity contributions and new bank financing. This was not merely the symbolic transfer of a famous name. It was also a financial restructuring intended to give the business more room to operate.
Why Bialetti needed a new shareholder #
Bialetti is not a small nostalgia business frozen around one design. It sells traditional and electric coffee makers, espresso machines, coffee and accessories. Yet its most famous product now competes in a highly fragmented home-coffee market.
Bean-to-cup machines, capsules, manual filter methods and better domestic grinders have changed how people compare equipment. A household choosing between a moka pot, an automatic machine and a filter brewer considers convenience, cleaning, cost per cup and expected flavour as well as purchase price. Our guide to choosing a coffee maker helps put those trade-offs in order.
Bialetti also carried substantial debt. The official closing announcement recorded consolidated debt of roughly EUR 98.6 million at 31 May 2025 and approximately EUR 44.1 million after the transaction. That kind of burden can restrict product development, marketing, stock management and overseas growth, even for an internationally recognised brand.
Finally, the Moka Express is an icon whose commercial value depends on continuity. Excessive change could weaken trust; too little change could leave the range behind newer habits. NUO’s task is to fund growth without sanding away the qualities that made the object recognisable.
Should buyers expect lower quality? #
Nothing in the reviewed official documents establishes a general relocation of production, a change of materials or the withdrawal of spare parts. NUO instead emphasised Italian identity and international expansion. That statement is not, by itself, a guarantee for every future product either.
After an acquisition, it is sensible to watch:
- the model range, including aluminium, stainless-steel, induction and electric versions;
- the supply of seals, filter plates and funnels, which determines whether a moka pot remains serviceable;
- the country of manufacture printed on the specific product and packaging;
- the long-term quality of metal, threads, handles, valves and finishing;
- after-sales support in Switzerland, especially access to correctly sized parts.
Judge the model in front of you rather than making a claim about every product carrying the logo. Check induction compatibility, manufacturing information, part numbers and recent long-term reviews from owners of the same reference.
What it means when buying in Switzerland #
There is no rational need to rush out and buy a Bialetti solely because ownership changed. A moka pot is still a simple assembly: lower chamber, funnel, seal, filter plate, safety valve, upper chamber and a heat source. Coffee, grind and technique influence the result at least as much as the badge.
Ask five practical questions first:
- Does it work on your hob? A conventional aluminium moka pot will not work on every induction zone. Choose an induction-compatible version or a suitable adapter.
- Which size do you actually need? Moka “cups” are small. A three-cup pot does not make three large mugs.
- Can you buy the correct parts? A hardened seal or distorted filter plate can quickly spoil performance.
- Is your coffee ground correctly? A very fine grind may impede flow; a coarse one may taste thin. See our guide to grinding coffee for each brewing method.
- Will you maintain it properly? Excessive heat, dry heating and poor assembly shorten its life. Our coffee-machine maintenance guide covers the useful habits.
For the brewing technique itself, read how to use a moka pot. Fill level, moderate heat and stopping at the right moment have a clearer effect on the cup than takeover rumours do.
Claims that remain speculation #
Commentary around the acquisition predicted cheaper products, connected moka pots, wholesale production moves to Asia and rising values for “pre-takeover” examples. The official sources reviewed do not confirm any of these outcomes.
- Lower prices: distribution efficiencies could reduce costs, but a heritage brand might equally move further upmarket.
- Connected appliances: innovation is plausible, but no connected replacement for the classic moka pot has been confirmed in these documents.
- Relocated production: this cannot be established without checking each model’s current declaration.
- Collector value: old rarities and limited editions may attract collectors. A recent mass-produced pot does not become scarce merely because ownership changed.
The acquisition can influence strategy, but it does not instantly turn every coffee maker into a worse product or a speculative asset.
Our view #
The change of control matters to the Italian coffee industry, but it warrants neither panic nor uncritical enthusiasm. The financial reset is the clearest positive. The industrial test will be whether Bialetti continues to deliver simple products that last, can be maintained and have readily available consumable parts.
For a Swiss buyer, the recommendation is straightforward: choose a Bialetti when the particular model suits your hob, serving size and preferred coffee, and when replacement parts are available. Do not buy it merely because someone calls it “the last real Bialetti”. The completed delisting provides no evidence for that nostalgic claim.
Principal sources: Bialetti’s 5 June 2025 change-of-control release, its 3 June 2025 Golden Power announcement, and CONSOB’s notice covering the final offer results, squeeze-out and delisting.