Rancilio takes majority stake in Egro Coffee Systems AG
Giorgio Rancilio, President & CEO of the company, announced that Rancilio completed the acquisition of 53% of the Swiss company Egro Coffee Systems AG, the historic brand that manufactures fully automatic professional coffee machines for bars, of which Rancilio already held a 25% stake, and now controls the company based in Niederrohrdorf, near Zurich. Rancilio holds now 78% of the shares in Egro Coffee Systems. The Egro brand and the company were founded in 1849 by Castor Egloff. He made the first model in 1934, and then developed and produced the “Mikado” in 1972, the world’s first ever fully automatic professional coffee machine. In 2007, the Swiss company had a CHF 26 million (EUR 16 million) business and 80 employees.
