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
    23
    Sep 23-Sep 25, 2025 | Milan, Italy

    Lineapelle

  • Sep
    23
    Sep 23-Sep 25, 2025 | Milan, Italy

    SIMAC Tanning Tech

  • Sep
    25
    Sep 25-Sep 28, 2025 | Milan, Italy

    White Milano

  • Jan
    10
    Jan 10-Jan 13, 2026 | Riva del Garda, Italy

    Expo Riva Schuh

Related Organizations

  • Footwear Polytechnic

    Footwear Polytechnic

    Italy
  • AICC - Italian Leather Chemists' Association

    AICC - Italian Leather Chemists' Association

    Italy
  • Assocalzaturifici - Italian Footwear Manufacturers' Association

    Assocalzaturifici - Italian Footwear Manufacturers' Association

    Italy
  • Accademia Riaci

    Accademia Riaci

    Italy