MILAN — Gruppo Florence is increasing its Made in Italy portfolio of high-end manufacturing corporations with a strategic addition.
The group, established in October 2020 with the purpose of creating a platform to produce high-quality Made in Italy merchandise to main luxurious style manufacturers — leveraging aggressive costs, guaranteeing immediate and versatile deliveries and options, whereas safeguarding the technical and cultural know-how of small and medium-sized family-owned Italian corporations — has acquired Emmegi, a Lombardy-based agency funded in 1880 that produces males’s and girls’s casual outerwear.
As a part of the settlement Emmegi’s founding Bonacina household will proceed to work on the firm and can grow to be shareholder of the group.
This is the fifth acquisition for Gruppo Florence, which is managed by non-public fairness fund VAM Investments, Fondo Italiano d’Investimento and Italmobiliare. Along with Emmegi, the group operates jersey specialist Manifatture Cesari; outerwear producer Giuntini; Ciemmeci, an organization specialised within the manufacturing of leather-based and fur items, in addition to knitwear agency Mely’s.
“We are continuing our process of aggregation of Italian excellent companies guided by entrepreneurs that believe in teamwork and that are keen to elevate the services they offer to luxury brands,” mentioned Francesco Trapani, Gruppo Florence president and chairman of VAM Investments. “We want to further enhance these family businesses within Gruppo Florence.”
According to Maurizio Bonacina, chief govt officer of Emmegi, this deal represents a chance not solely to develop extra collaborations with different high-end producers, but additionally to help the fifth era of his household. “We strongly believe in Gruppo Florence’s investment philosophy, offering us industrial synergies, training programs, sustainability service and interesting exchanges,” mentioned Bonacina, including that Emmegi will primarily collaborate with Giuntini. “In addition, Gruppo Florence will give the new generations of our family the chance to enroll in an articulated training program dedicated to entrepreneurs’ children.”
As Trapani instructed WWD in June, Gruppo Florence’s gross sales in 2021 are anticipated to succeed in 170 million euros, however he famous that the complete advantages of the acquisitions will likely be seen in 2022 or 2023.
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