Centenary brand Bialetti and “dirty sneaker” label Golden Goose bought by Chinese investors; over 400 Italian firms acquired by foreign buyers this year

Italian media are warning that “Made in Italy” brands could be slipping overseas. Recent figures suggest that more than 400 Italian companies were acquired by foreign investors within a year, including the century-old moka pot brand Bialetti, which was bought by Chinese capital.

A Corriere della Sera in-depth report notes that Italy’s economy is heavily built on successful family businesses, but many struggle during generational handovers due to technology and innovation demands. Companies often need major reinvestment to stay competitive, yet bank-financed investment has been declining. The IPO route has also slowed: in 2025, roughly 20 SMEs listed while 29 companies delisted, including several well-known names.

Citing Mediobanca, the report says the share of mid-to-large Italian firms controlled by foreign capital has been rising, with their revenue share increasing from about 29.7% at the end of 2022 to around 34.5% in 2024. KPMG data adds that 429 Italian companies were acquired by foreign funds or corporations in 2024 alone, with total deal value hitting a record high. Many deals involve investment funds that typically hold assets for 5–6 years before selling—often to foreign industrial buyers.

Examples mentioned include IVECO’s non-military units planned for sale to India’s Tata Motors, Comau’s majority stake sold by Stellantis to U.S. fund One Equity Partners, and Piaggio Aerospace acquired by Turkey’s Baykar. The report also highlights Chinese-linked deals such as Nuo Capital’s acquisition of Bialetti and a high-priced bid by China’s HSG for Golden Goose.