Bialetti Industrie S.p.A (BIT:BIA) signed a framework agreement to acquire Aeternum S.r.l. from Bialetti Industrie S.p.A (BIT:BIA) for €5.3 million on May 2, 2023. Consideration of €3.8 million will be paid on July 20, 2023 and earnout of €1.5 million will be paid on achievement of specific targets. The transaction is subject to approval of Illa's shareholders.

For Period ended December 31, 2022, Aeternum reported net revenue of €12.3 million. The transaction is expected to complete on July 20, 2023. Luca Cuomo and Matteo Polli of DWF Italy and Maviglia & Partners Studio Legale Associato acted as legal advisor to Illa S.p.A.