Cifarelli re-acquires Emak shares

The Cifarelli family is back in full control of Cifarelli Spa, a company based in Voghera (Pavia), specialized in the production of professional agricultural and gardening machinery. The operation was completed last June when Emak from Bagnolo in Piano (Reggio Emilia), which in 2016 had purchased 30% of the Cifarelli shares, exercised the Put option, i.e., the right to resell (for a specific price) its share to the family of Lombard entrepreneurs. “The buy-back of the company’s shares - said Renato Cifarelli, CEO of Cifarelli - constitutes a renewed commitment, on my part and that of my brother Roberto, in the company founded by our parents. We thank Emak for the positive relationship of these years. Unfortunately, the operation’s expiry comes at a particular time for the industry that has led to these decisions. Together with our entire team, we are willing to focus on the study and development of professional and increasingly innovative products. Enthusiasm and global vision will lead us to address the market’s structural change in the near future. In recent months, some of our machines have been essential tools for sanitizing; for 2021 and the coming years, we are planning an important investment plan that will affect both the new technologies and the product range”. Nevertheless, Emak and Cifarelli have specified that they will continue their collaboration in the technical, commercial, and distribution fields in order to seize future mutual business opportunities. In 2020 the company from Voghera exported to over 70 countries, particularly to the markets of North and South America (39%), Asia (21%), Europe (21%), and Africa (19%). Exports (excluding sales to the Emak group) accounted for 92% of turnover.