Andersen in Italy advisor in Emmegi’s sale to Florence Group

Andersen’s advisors have assisted the sellers in a merger that further strengthens Florence Group, the leading producer of luxury clothing in Italy

Andersen in Italy has managed the first stage of the sale of Emmegi and its parent company, Rilo, to Florence Group on behalf of the selling shareholders, Maurizio Bonacina and Laura Bonacina. Florence Group represents the leading producer of luxury clothing in Italy. Andersen in Italy is part of Andersen Global, an international association of firms specialized in tax, legal, and financial advisory consulting, with 279 other branches worldwide.

The Andersen in Italy advisory team, composed of Guido A. De Vecchi, Serena Quaranta, and Federica Ruberti, has handled the valuation, negotiation, and organization for the sellers in addition to supporting due diligence exercised by the buyers.

From the seller side, Francesca Romeo from Studio Romeo has handled the fiscal and administrative aspects and Hogan Lovells Studio Legale managed the legal and contractual aspects of the transaction.

“Emmegi has been selected among the elite firms in the Italian luxury clothing sector” claimed Guido A. De Vecchi, Partner in Andersen in Italy “in order to contribute to the Florence Group’s growth and its vision of aggregating mid-sized, family-owned companies. This vision highlights the factors leading to the group’s success while maintaining the continuity of management with the involvement of the selling shareholders. We have contributed to the success of this transaction by supporting the selling shareholders with professionalism in approaching an operation in which the structure was not, at first, clearly understood, thanks to our strong experience in M&A transactions and teamwork with the other professionals involved”.

Emmegi, headquartered in Bulciago (LC) and active in high-quality fashion design and packaging, is set to become part of Florence Group, a leading producer in the Italian textile supply chain. Florence Group is managed by Vam Investments, an Italian Investment Fund, and Italmobiliare, in partnership with four other companies which have already been acquired by the group: Giuntini S.p.A., Ciemmeci Fashion Srl, Mely’s Maglieria Srl, and Manifatture Cesari.

Emmegi, founded in 1880 by Damiano Bonacina, now expects a phase of expanded growth thanks to its participation in Florence Group’s industrial project. The project aims to develop a leading platform on the national and international level in providing Made in Italy products for the most important fashion brands. It leverages the characteristics that have always defined the success of Italian family-owned companies operating in the fashion sector, such as the traditional Italian craftsmanship behind high-quality products and the capacity to guarantee flexibility in delivery time and in the solutions provided.