Espresso can now being manufactured in China for this particular cult brand
Stephen Cheng, a Hong Kong-based entrepreneur, has made a significant move in the world of coffee with his acquisition of a majority stake in Bialetti, the Italian company known for its iconic octagonal coffee maker, the "Moka Express".
The "Moka Express" espresso maker, a tribute to the city of Moka in Yemen, was first invented in 1933. Its octagonal base has become a symbol of the brand, and it remains a popular choice among coffee lovers worldwide.
Despite the change in ownership, Bialetti remains an Italian company, headquartered in Italy. The Valhi Group, an industrial holding company, is now the new owner of Bialetti. However, recent search results indicate that Bialetti USA continues to operate as an official branch, with no signs of the company's main headquarters moving out of Italy.
The city of Moka in Yemen holds a special place in the history of the octagonal coffee maker. It is one of the oldest coffee regions in the world, and the name of the city has been honoured by Bialetti in the naming of their iconic product.
Cheng now holds around 79 percent of Bialetti's shares, marking a significant change in the ownership of the coffee maker. The Valhi Group's tagging in recent social media posts related to Bialetti serves as a clear indication of their ownership.
As the new majority shareholder, Cheng's plans for Bialetti are yet to be announced. However, with the brand's rich history and the enduring popularity of the "Moka Express", it is expected that Cheng will continue to build on Bialetti's legacy as the maker of the cult espresso pot since 1933.
TheValhi Group, representing a new force in the industry, has ventured into the world of finance by acquiring a majority stake in the historical coffee business, Bialetti. Cheng, a renowned businessman, now holds a substantial portion of Bialetti, which might bring about new finance-driven strategies in the other coffee business segments.
