Ikf presented a binding offer for the industrial activities of the clothing group Ittierre to the current owners and to the Court, who will have to decide whether to accept or not by March 30th. This was announced by the investment company in a note, specifying that the decision came following the agreement signed on 21 February last.
Ittierre is a textile pole in the province of Isernia where, in the golden age of Made in Italy, the clothes of the prestigious Italian fashion brands were produced. Ikf's offer includes the lease of a company branch for 300 euros a year and any subsequent one purchase for no more than three million euros.
The goal is to create a pool of brands temporarily called “Casa Italia”, with “commercial, operational and industrial synergies between the brands involved, all high-end Made in Italy – continues the note -. The pole already includes historical names such as Lanificio Botto and Sintesi Arredamenti and could in the future increase with further acquisitions, including the 3P luxury door brand”.
Through a newco, Ikf intends to first enter into a 12-month contract to sell Ittierre's finished products. The new company, “without prejudice the minimum absorption of 100 employees in 24 months – continues the investment company – will have the right to hire employees in proportion to the number of licenses they will sign with fashion operators, at a rate of approximately 25 employees for each licence. The personnel will be hired from the mobility lists, giving preference to former Ittierre employees".
Many analysts have judged this offer at a discount, even if it guarantees the future of the Molise-based company. At this point it remains to be seen whether there will be any countermoves by Camillo Colella, the Molise king of mineral waters who had presented Ittierre with a proposal similar to that of IKF, but slightly higher (3,2 million euros).
