Luxury: Pinault's PPR buys Brioni, agreement reached

Eventually they signed. After days of negotiationsFrançois-Henri Pinault, at the helm of Holding Ppr, yesterday concluded a preliminary contract to take over 100% of Brioni, the Roman luxury brand. The operation will cost the French 350 million euros. The sellers will be the heirs of the Fonticoli and Savini families, who founded the historic Capitoline tailoring 75 years ago. The Italian company expects to close 2011 with a turnover exceeding 180 million euros. The Ebitda is 25 million, while the financial position is in debt for about 90 million.