MILAN – Lavazza ‘s tender offer on Ivs Group kicked off yesterday, Monday 9 September. The Banca d’Italia already authorised, at the end of August, the acquisition carried out by Grey S.à r.l. , a newly incorporated Luxembourg company controlled by E-Coffee Solutions (Luigi Lavazza Spa).
Lavazza, Italy’s biggest roaster and world-scale competitor in the coffee market, received the go-ahead from Consob, the Italian stock market authority, for launching its public offer on Milan-listed vending machines firm Ivs Group ahead of taking the firm private
On 6 September, the bidder released an investors prospectus, while the offer period will last between 9 – 27 September. at a price of 7.15 euros per share. Lavazza previously received the Banca d’Italia authorization for its offer on 28.36% of IVSG.
The voluntary tender offer by Lavazza, which already holds more than 20% of the capital, concerns around 20.7 million shares, or 22.93% of the total capital, but around half of this stake will be contributed by the majority shareholder.
When the reorganisation is complete, if the delisting is achieved, Ivs will be wholly controlled by Grey, a a newly incorporated Luxembourg vehicle company, which is launching the IPO with Ivs Partecipazioni at 51% and Lavazza at 49%, but there are agreements between the two shareholders that will allow the Lavazza group – which last year achieved 3 billion in revenues with a gross margin close to 30% – to gain control from 2027.
Founded in 1971 as Bergamo Distributori, IVS Group S.A. is the leading vending operator in Italy and second in the European Union. The group is today active in seven European countries with a network of 128 branches and around 4,500 employees.
IVS Group S.A.’s shares are listed on Euronext Milan, STAR segment.
