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The Illys divide the family businesses between them, on the one hand the Polo del Gusto brands, on the other the entire coffee business. After the decision, announced at the end of last year, to sell the Mastrojanni wines to Francesco Illy at the same time as his exit from the family holding, the Illys have taken a further step in the specialization of the family branches. Following the extraordinary meetings held on Tuesday 3 October, a demerger of the group’s holdings was decided. In particular, control of the Polo del Gusto will pass to Riccardo Illy, while the absolute majority of the branch controlling illycaffè will remain in the hands of the brothers Anna and Andrea.
More specifically, Riccardo Illy will control 95% of Polo del Gusto through the Exgi holding, while 2.5% will continue to be owned by the Illy Group and the remaining 2.5% by the Ponti family. Anna and Andrea, however, will control 80.5% of Raa Spa, the financial company that has already taken over Francesco Illy’s share and which controls the Illy Group, while 19.5% will be headed by Daria Illy, daughter of Riccardo . Anna and Andrea will also control, respectively, Sunshine Srl and Finilly Srl, resulting from the split of the Illy Group, which will both hold approximately 5% of illycaffè. Finally, the Illy Group will continue to control approximately 70% of illycaffè, of which the Rhône Capital fund will remain a 20% shareholder.
«The purpose of the operation – Anna, Andrea and Riccardo Illy jointly declared – is to create greater economic value and long-term prospects for all stakeholders through the specialization of trades and the simplification of shareholding structures, safeguarding the harmonious relationships between the different branches”. The reorganization operation will be completed by December 2023.