De' Longhi to acquire Capital Brands from Centre Lane for $420m.

De' Longhi, an Italian small appliance manufacturer, agreed to acquire Capital Brands, a domestic appliances manufacturer, from Centre Lane, a private equity firm, for $420m. “This acquisition is a perfect fit for the De’ Longhi Group and is consistent with our objectives of geographical expansion and growth by external lines. Moreover, it represents a strategic value from several viewpoints: we add a young and dynamic brand to our portfolio; we enlarge our range of iconic products with an important presence in the blender segment; we increase our penetration in an expanding and strategically important market like the USA; and last, but not least, we strengthen the De’ Longhi Group’s leadership in the sector of food preparation," Massimo Garavaglia, De’ Longhi CEO.