The wave of acquisitions of textile-fashion-accessories continues – almost certainly not by chance – in particular in Italy and as regards the more strictly manufacturing part of the supply chain. Today’s news is that the Prada group and the Ermenegildo Zegna group have acquired the majority in Filati Biagioli Modesto, a company from Montale (Pistoia), for over a century excellence in the production of cashmere and noble yarns and in the care of the process of transformation of fibers into yarns
The most recent operations
Last week the Ermenegildo Zegna group had acquired the majority (60%) of Tessitura Ubertino di Pratrivero (Valdilana, Biella), a company specializing in the production of high-end women’s fabrics. Under the agreement, the remaining 40% remains with the brothers Alberto and Paolo Ubertino, who also maintain their roles in the operational and creative management of the company, but this is a further step towards strengthening the Zegna group, which in recent times had acquired Bonotto, Dondi and Tessitura di Novara, Ermenegildo Zegna conquers another historical reality of textiles. A few days before iThe manufacturer of hinges Riri Group, controlled by Checkers Capital, had acquired the Tuscan Amom from the Veneri family, specialized in small metal parts and costume jewelery and accessories for footwear, leather goods and clothing.
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The details of the joint purchase
Prada and Zegna have a majority stake in Filati Biagioli Modesto, for over a century excellence in the production of cashmere and noble yarns and in the care of the process of transforming fibers into yarns, guaranteeing perfect quality throughout the entire production process. . Both the Prada Group and the Ermenegildo Zegna Group will be assigned a 40% stake; the Biagioli family will own 15% of the company and the remaining 5% will be owned by Renato Cotto, a manager from Biella with a long career in the world of yarns, who will take on the role of CEO. Gildo Zegna, CEO of the Zegna Group, will be appointed chairman, while Franca Biagioli and Patrizio Bertelli, CEO of the Prada Group, will join the board of directors.
Bertelli and Zegna’s comments
«This acquisition is part of the philosophy that the Prada Group has always pursued: direct control of the entire supply chain to guarantee uncompromising quality in every single phase of the production process – comments Patrizio Bertelli -. It also represents a further strategic investment that allows to preserve the know-how and the centenary tradition of Italian excellence in the production of fine yarns and the synergistic approach between two Italian groups, in the long-awaited goal of ‘creating a system’ in the Italian fashion and made in Italy industry “. “The acquisition of historic Italian companies, each specialized in its own product sector, has allowed Zegna over the years to set up a true luxury textile laboratory with the aim of producing fabrics of the highest quality and at the same time safeguard the uniqueness of the Italian supply chain – underlines Gildo Zegna -. This new acquisition today makes me particularly proud because in addition to adding another prestigious reality in noble yarns to our textile division, I am supported in this path by a great entrepreneur in the Italian fashion industry ».