Trussardi officially switches to QuattroR. The news had been in the air for months, but today it was official. The fund has completed the acquisition of the Bergamo brand and the operation has received the green light from the banks.
"QuattroR sgr - reads the note - an independent asset management company founded with the aim of promoting the relaunch and development of medium-large sized Italian companies in temporary financial crisis, today finalized the acquisition of the majority of Trussardi SpA, with approximately 60% stake".
The acquisition takes place through a capital increase of 50 million euros. The operation was carried out through the creation of a Newco, 70% owned by QuattroR and 30% by Tomaso Trussardi, who controls 86% of the Finos holding, the sole shareholder of Trussardi, where Beatrice and Gaia Trussardi are also present.
“I am very satisfied that, following the reorganization of the shareholding structure within my family, today we concluded an agreement with QuattroR relating to the relaunch and capital strengthening of the family brand. I believe that the best conditions have been created for carrying out a project developed by my father Nicola» he commented Tomaso Trussardi, who will go on to preside over the company.
The famous de Levriero brand aims to relaunch itself after years of financial difficulties characterized by a sharp decline in profitability parameters. Trussardi closed 2017 with a turnover of 154 million euros, thanks also to the performance of the shoe sector (+35% compared to the previous season) and of the accessories division, which rose to around 40% of sales for a value of around 60 million of Euro. Since the beginning of the year, the retail channel has also grown by 17 percent. The company is present in 47 countries with its Trussardi, Trussardi Jeans lines and licenses through a network of over 160 single-brand stores in Italy, Europe and Asia, as well as more than 1.800 multi-brand points of sale, corners and department stores.
For QuattroR, through this operation, the fund will enter the fashion market. The asset management company, 60% controlled by the management, has among its subscribers Cassa Depositi e Prestiti, Inail, Inarcassa and Cassa Forense.
Andrew Morante, Chairman QuattroR said: “The QuattroR fund confirms its mission and vocation to support medium-large Italian companies, acquiring control of the Trussardi Group together with Tomaso Trussardi. Our capital endowments are thus placed at the service of a very challenging project within an industrial sector of great economic importance for the country”.
“The new course of the Group's activities will be based on strengthening the positioning and visibility of the brand, relaunching it in the product categories that have made the Trussardi brand recognizable and known throughout the world. The corporate relaunch will also leverage "brand extensions"; in particular, on that in the perfume sector in partnership with the Angelini Group”, they affirm from the new structure.
