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Lone Star Is Said to Weigh Sale of Gaggia Espresso Machine Owner

  • Evoca owner could seek about $1.5 billion in a potential sale
  • Private equity owner Lone Star may also list the unit in IPO
Inside A Caffebene Co. Coffeehouse
Photographer: Taylor Weidman/Bloomberg

Lone Star Funds is considering a sale of Evoca Group, which makes the Gaggia espresso maker used by cafes and restaurants, after the Italian coffee machine company drew takeover interest in recent months, people familiar with the matter said.

Private equity firms and businesses in the food industry have expressed interest in the firm, and Lone Star could seek a valuation of about $1.5 billion in a potential sale, the people said, asking not to be identified because the matter is private. The deliberations are at an early stage and no final decisions have been made, the people said. Lone Star may also consider an initial public offering for Evoca, they said.