ICFG Italy advises Gruppo Florence in the acquisition of two jersey products companies
|Seller||Manifatture Cesari & Romolini Srl|
|Target||Manifatture Cesari & Romolini Srl|
|Deal Type||Mergers & Acquisitions|
Gruppo Florence is now broadening its scope. The group, which defines itself as the “leading manufacturing hub for luxury apparel in Italy,” serving the biggest brands names in high-end fashion, has acquired Manifatture Cesari, an Italian producer specialised in jersey fabrics.
Manifatture Cesari was created by Stefano Romolini and Erika Cesari in Città di Castello, in Italy’s central region of Umbria, in 1988. It has a strong knowledge on all the jersey manufacturing spectrum, from product design to garment production, including fabric weaving, printing and decoration. Manifatture Cesari controls three other companies, Romolini Srl and Max Conf Srl for garment manufacturing, and Red Pixel Srl for the decoration of finished products. Altogether, Manifatture Cesari has more than 100 employees.
Manifatture Cesari joins up with the three long-established, Tuscany-based textile manufacturers that together have spawned Florence Group – Giuntini SpA (outerwear and light fabrics), Ciemmeci Fashion Srl (leather products and fur) and Mely’s Maglieria Srl (knitwear)- while the Romolini family is now a shareholder in the group, joining the ranks of the other founding families that altogether own a 35% stake in it.
The acquisition of Manifatture Cesari is part of the project of the Florence group, led by Francesco Trapani, to develop a leading international platform for the supply of high quality products for some of the world’s most important fashion brands, priding itself on manufacturing products ‘Made in Italy’ through the aggregation of family businesses.
|ICFG Office||The Hague|