Milan, Italy
Gruppo
Florence has acquired Antica Valserchio, a Tuscany-based firm founded 70
years ago by the Bertolani family. It produces textiles for the accessories,
ready-to-wear and upholstery sectors.
This
marks the sixth acquisition for the group, established in October 2020 with the
goal of developing a platform to supply high-quality Made
in Italy products to major luxury fashion brands while
safeguarding the technical and cultural know-how of small and medium-sized
family-owned Italian companies.
As
part of the agreement, the founding Bertolani family will have a 35 % stake in
Gruppo Florence, together with the entrepreneurs that founded the other
companies acquired by the group.
Gruppo
Florence is controlled by private equity fund VAM Investments, Fondo Italiano
d’Investimento and Italmobiliare. Gruppo operates Antica Valserchio, jersey
specialist Manifatture Cesari, outerwear manufacturer Giuntini, Ciemmeci, a
company specialized in the production of leather and fur pieces, knitwear firm
Mely’s, as well as informal outerwear specialist Emmegi.
Francesco
Trapani, Gruppo Florence president and chairman of VAM Investments, said that,
their goal is to establish synergies and offer excellent services to
international luxury brands. He added that, Antica Valserchio, with its 70-year
history, will bring additional know-how to the conglomerate.
Alessandro
Bertolani, chief executive officer of Antica Valserchio, touted the industrial
synergies with other company’s part of Gruppo Florence’s portfolio. The family
company counts around 90 employees working at two plants in Castelnuovo di
Garfagnana, on the outskirts of Lucca, Italy.
Source: Yahoo Finance
Image
Source: Google Images
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