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New acquisition for Italian Exhibition Group, a trade fair company which includes the exhibition districts of Rimini and Vicenza and which has signed an agreement to acquire 51% of the capital of Palakiss in the Venetian city – where it organizes the most important Italian event dedicated to gold and jewelery – , a goldsmith center in Vicenza, for a fee of approximately 1 million euros.
The acquisition also includes a call option for the purchase of the remaining 49% of the share capital, exercisable after 30 days from the approval of the 2024 financial statements and valid for the following three years, at a price to be determined.
For Corrado Peraboni, CEO of Italian Exhibition Group, «The operation represents a further step in our strategy to increase and enrich the product portfolio. In fact, it is an opportunity to strengthen the sectoral specialization of the goldsmith industry, which we support in order to create new business opportunities for companies.”
The acquisition will allow IEG to expand its offering in the Jewelery & Fashion sector «creating interesting synergies with the main events already consolidated within the group’s product portfolio, such as Vicenzaoro, T.Gold and Oroarezzo – said the chief business officer , Marco Carniello –. Under shared and unified management, the international operator visiting Vicenza will be able to access an even wider range of products and services related to the world of jewelery and will have a single interlocutor capable of guaranteeing the best business experience”.
Palakiss is a goldsmith center in Vicenza, located a few steps from the city’s exhibition district. Since 1999, the company has organized four annual events in which Italian and international manufacturing companies participate, offering them the opportunity to sell their gold and silver products on the spot. «The possibility of working together with IEG with integrated and synergistic logics will allow Palakiss to grow even further, adding new skills and investment capacity to the consolidated experience in the sector and to the recognized care in managing customers in our structure», commented the CEO Andrea Marcon, who will continue to hold this position also in the new phase of development of the company.