Cifarelli family buys back 30% of the company
Today the Cifarelli family has returned to 100% owner of Cifarelli Spa.
The exercise of the PUT option, on the 30% of the share capital of Cifarelli Spa, by Emak S.p.A. (listed on MTA, STAR) has been finalized.
The two companies will continue their collaboration in technical, commercial and distribution areas to seize future mutual business opportunities.
"The repurchase of the shares of the company" said Renato Cifarelli, CEO of Cifarelli Spa "represents a renewed commitment on my part and of my brother Roberto in the company founded by our parents.
We thank Emak for the active relationship of these years; unfortunately the expiry of the operation comes at a particular time for the industry that led to this decision.
We are ready, together with all our team, to continue to focus on the study and development of professional and increasingly innovative products. The enthusiasm and the global vision will guide us in facing the structural change of the market in the near future.
In recent months, some of our machines have been fundamental tools for sanitizing; for 2021 and for the coming years, we are preparing an important investment plan that will affect both new technologies and the product range."
In 2020, we already exported to over 70 countries with a division of 19% in Africa, 39% in the Americas, 21% in Asia and 21% in Europe. Exports (excluding sales to the Emak group) represented 92% of the turnover.
Sales, although not yet at the maximum point levels of 2017, are recovering very well compared to 2019.