World Footwear

Companies

Permira to acquire majority stake in Gruppo Florence

May 31, 2023 Italy
Permira to acquire majority stake in Gruppo Florence
Funds advised by the global private equity firm Permira have agreed to acquire a majority stake in luxury goods manufacturer Gruppo Florence
The Italian integrated industrial platform Gruppo Florence has announced that funds advised by Permira, a global private equity firm, have agreed to acquire a majority stake in the company from existing shareholders VAM Investments, Fondo Italiano d’Investimento, Italmobiliare, and Gruppo Florence’s entrepreneurs.

“The entrepreneurs, the management team, and VAM Investments will reinvest a significant portion of their proceeds and will remain committed to the project”, according to the release issued by Permira. Fondo Italiano d’Investimento will also retain a minority stake.

Attila Kiss will continue to lead Gruppo Florence as CEO and Francesco Trapani will retain his role as Chairman.

Gruppo Florence is an Italian manufacturing hub offering services ranging from product development to the production of high-end clothing and accessories, shoes and leather goods for luxury brands. The group generated revenue of more than 600 million euros in 2022.

The expectation is that now with the support of the Permira funds ”Gruppo Florence will have the resources and operational expertise to continue growing, consolidating its product and service leadership”.

The financial terms of the transaction were not disclosed.


Image credits: Gruppo Florence

Related Events

  • Sep
    15
    Sep 15-Sep 17, 2024 | Milan, Italy

    MICAM Milano

  • Sep
    15
    Sep 15-Sep 18, 2024 | Milan, Italy

    Mipel

  • Sep
    17
    Sep 17-Sep 19, 2024 | Milan, Italy

    Lineapelle

  • Sep
    19
    Sep 19-Sep 22, 2024 | Milan, Italy

    White Milano Sign of Times

Related Organizations

  • UNPAC - Italian Leather Chemicals Manufacturers Association

    UNPAC - Italian Leather Chemicals Manufacturers Association

    Italy
  • Craftsmanship School in Florence (Schola)

    Craftsmanship School in Florence (Schola)

    Italy
  • CERCAL - Research Centre and International Footwear School

    CERCAL - Research Centre and International Footwear School

    Italy
  • Polimoda - International Institute Fashion Design & Marketing

    Polimoda - International Institute Fashion Design & Marketing

    Italy