ICFG Italy advised Gruppo Florence on the acquisition of Antica Valserchio
|Deal Type||Mergers & Acquisitions|
Antica Valserchio is 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 is the sixth acquisition of Gruppo Florence aiming to become a premium made in Italy products, and supply to major luxury fashion brands. The acquisition was made through VAM Investments (in control of the Gruppo Florence) and the Fondo Italiano d’Investimento and Italmobiliare.
Gruppo Florence’s sales in 2021 are expected to reach 170 million euros, and is now expecting to close 2021 with a turnover of around 170 million and more than a thousand employees.
Antica Valserchio has a 70-year history, 90 employees and a production network made up of a dozen Prato textile companies with 300 employees. In 2019 it had a turnover of 34.7 million (+ 34%), 32% of exports, with an EBITDA of 19% and 1 million scarves and stoles produced. In recent times it has been expanding to the production of fabrics for furnishings, clothing, bags and shoes.