VEA Group logo.
As of Nov. 1, VEA Group officially formed in Italy through the merger of coffee equipment companies Carimali, Elektra, Heylo and Bellezza.
VEA initially launched as a holding company in 2017 under the name VEA Ventures, with ownership of the now 105-year-old espresso machine company Carimali and its subsidiaries, including the Chinese distribution company Carimali China. VEA Group maintains production plants in Bergamo, Italy, and Suzhou, China.
Over the past seven years, the Treviso-based holding company has made a series of equipment- and distribution-focused investments, including acquiring Italian espresso machine company Elektra in 2019. VEA launched Heylo as sibling brand specializing in induction heating in 2021. In 2023, the company acquired German espresso machine maker Bellezza, which has subsequently relocated to Italy.
An Elektra Evok espresso machine. 2024 Daily Coffee News photo by Howard Bryman.
The new combined entity, VEA Group SpA, has inhereted all the rights and obligations of the merged companies, which technically include Elektra Srl, Heylo Srl, and Bellezza Srl and Carimali SpA.
Additional financial details surrounding the merger have not been publicly disclosed.
“This reorganization is a natural evolution of our business,” VEA Group CEO Umberto Doglioni Majer said in an announcement of the merger. “It allows us to leverage our expertise, resources, and passion across all of our brands. By uniting in one company we can offer better solutions to our customers while maintaining the distinct heritage and excellence each brand represents. This strategic move also positions us to invest further in product development and continue leading the coffee industry.”
A Slingshot grinder. 2023 Daily Coffee News photo by Nick Brown.
Beyond its core Italian machine brands, VEA has recently made minority or undisclosed investments into other specialized equipment companies. The company has holdings in Hong Kong and Australia-based espresso grinder and accessories maker Slingshot. VEA has also made minority investments in two U.S. companies, Oregon-based home coffee machine maker Ratio and New Jersey-based cold brew and extracts manufacturer BKON.
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