Fisher & Paykel Buys Elba (of Italy)
Submitted by advisor on Thu, 06/01/2006 - 3:03am.
Effective June 15, Fisher & Paykel has purchased Elba of Italy, maker of DeLonghi ranges and cooktops and many other brands. It has been rumored that F&P was planning to blitzkrieg Europe. Another rumor becomes fact. No information on how this acquisition will effect DeLonghi's expansion plans in the United States and Canada.
UPDATE: June 19: DeLonghi CEO Fabio DeLonghi has divested its Elba factory making major appliances, but has kept its small appliances business and the DeLonghi brand.
