“Piquadro is diversifying in the luxury segment and has acquired Florentine leather goods manufacturer The Bridge. The Italian high-tech travel accessories brand announced in a press release it has signed an agreement for the acquisition of an 80% interest in Il Ponte Pelletteria, parent company of The Bridge, for €3.175 million.
The agreement includes options for the purchase of the remaining 20%, which can be exercised in January 2021 and between March and the end of May 2023. The operation must be finalised by the end of December 2016.
Piquadro acquired the Florentine manufacturer at a time when the latter was going through a troubled period, having embarked on a restructuring process a few years ago. Last July, The Bridge settled on a plan involving the dismissal of 25 of the company’s 60 employees.” [Continue Reading]