Leonardo Maria Del Vecchio dives into the beach establishment business
After opening restaurants in the Brera district of Milan, Leonardo Maria Del Vecchio now immerses himself in the beach sector. He landed in Versilia by purchasing the prestigious Franco Mare lido in Marina di Pietrasanta, near Forte dei Marmi, from Davis and Morgan, a company specialized in the acquisition of high-quality impaired loans. According to market sources, the investment made through the Triple Sea Food holding amounts to approximately 4 million euros. The group’s fourth venue will be built on the beach, which will carry the Vesta brand. The other three are located in Milan, all in the lively artists’ district, in via Fiori Chiari. The Courier reports it.
The fifth restaurant will open in another prestigious location, perhaps among the most renowned in the world: the Paraggi Bay in Portofino. The sale to Triple Sea Food marks the culmination of the rebirth of Franco Mare, an iconic coastal route on which the brothers Davide and Nicola Stefanini had invested considerable resources in the early 2000s, both in the lido and in the restaurant, the latter having become a Michelin star, with significant financial sacrifices due to the effects of the pandemic. At that point, Davis and Morgan, led by CEO Andrea Bertoni, intervened. Instead of auctioning off a valuable asset, as part of an agreement with a buyer, the group – with the participation of the Oetker family, owners of Hero – first acquired the mortgage loan from Prelios towards Franco Mare, to then invest in the creation of a new industrial plan, with the convictionsubsequently confirmed, that Franco Mare could grow and attract new investors to develop an industrial project in Versilia, an area so far attractive for investors such as the manager Giorgio Annani, Roberto Tacchella, who acquired the historic Isola, and Andrea Bocelli, who invested in Alpemare in Forte dei Marini.
The proceeds from the sale to Del Vecchio will be used to finance another Davis and Morgan revival operation in the real estate sector: the purchase of the L’O hotel in Como, identified through Asset Finding, an application developed by the same company for the search for impaired loans. Triple Sea Food is controlled by the LMDV Capital fund, managed by the fourth of the six children of the founder of Luxottica, who has also held the role of chief strategy officer of the multinational Essilux for about two years. The holding company, very active on the market, has also invested in the Bolognese company Ima, owned by the Vacchi family, and in the low-alcohol drinks sector, in collaboration with Fedez and Lazza.