In Italy that has never been able to create a real, strong luxury pole capable of competing with the big French ones, agglomerations of productive excellence continue to form, working on behalf of third parties precisely for the luxury giants.
MinervaHub notes the Bolognese excellence of embroidery
MinervaHub, an industrial company born last spring from the merger of Ambria Holding chaired by Matteo Marzotto with Xpp Seven, which belongs to the private equity fund Xenon, has announced that it has taken over Jato 1991, a company from San Lazzaro di Savena (Bologna) which from thirty years dealing with embroidery for pret-a-doors and high fashion. The two founding partners Giorgina Rapezzi and Jacopo Giuseppe Tonelli remain directly involved in the management of Jato 1991 and enter the capital of MinervaHub.
The hub started by controlling six companies – Galvanica Formelli and Zeta Catene (both from Arezzo), Zuma Pelli Pregiate (Pisa), Koverlux (Bergamo), Quake (Vicenza), Sp Plast Creating (Fermo) – with a portfolio of one thousand customers and aggregate revenues of 101 million euros. According to what was declared by the founders at the presentation of the project, last April, two other companies should be acquired by the end of the year.
The Florence Group rises to 19 subsidiaries
After the three acquisitions announced less than a month ago, the expansion of the Florence Group continues at a rapid pace – controlled for about 65% by the consortium led by VAM Investments, Fondo Italiano d’Investments (through Ficc) and Italmobiliare – which has announced to have recently taken over two luxury knitwear companies, both in Veneto: Maglificio Erika and Maglificio Leonello Spagnol. These are two excellences rooted in the territory and with a portfolio of high-profile customers: Maglificio Leonello Spagnol, founded in 1949 in Valdobbiadene, has been working for international brands in the high range since the seventies, producing about 130 thousand garments a year and in the 2021 recorded revenues of 26.5 million euros; Maglificio Erika, founded in Gazzo Veronese in 1985, has a similar production capacity, a 2021 turnover of 30 million euros and is characterized by the use of latest generation technologies.
With these acquisitions, the group’s industrial project now counts 19 companies, a turnover of around 380 million euros and over 2,000 employees in nine Italian regions. As has already happened with the other companies of the group, the owners families of the two companies (the Spagnol family, the Descrovi family and the Him Co Group) reinvest in the Florence Group by joining the small shareholders (who account for about 35%).