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Investment products provider acquires Corneliani
21
Jun '16
Bahrain based investment products provider Investcorp has signed an agreement with Italian luxury house Corneliani to acquire majority stake in the company for a value of approximately $100 million.

Investcorp has an extensive experience in running family-run luxury fashion businesses across Italy, and can help Corneliani in building brand awareness and in adding value to the firm expanding internationally in existing and new markets.

Investcorp's merger and acquisition advisor for the transaction was Banca IMI and its legal advisor was Gattai, Minoli, Agostinelli Partners.

“After over six decades building Corneliani, I believe the time is right for me to pass the company to a trusted custodian who can build on the vision and journey that I embarked upon with my brother in 1958,” Carlalberto Corneliani, founder of Corneliani said.

“I am confident that Investcorp is the best partner Corneliani could hope for and I have no doubt that they will develop this business to become one of the leading players in its market, similar to the success stories they have cultivated in Gucci, Tiffany & Co and Dainese,” he added. (MCJ)

Fibre2Fashion News Desk - India

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