Marquée brands won an auction for Italian luxury shoes manufacturer Bruno Magli held by the Court of Bologna as part of an insolvency proceeding (see a previous post by BeBeez), MF-Milano Finanza writes today. The fund offered 28.5 million euros that is 6 millions more than the 22.5 millions of the action basis.
This is the first investment for Marquée brands, a new investment veichle wholly owned by US private equity operator Neuberger Berman. Its offer beated the one coming from Carlyle and Lone Star funds who had been teaming up for the deal.
The 28.5 million euros figure will entirely cover the 20 millions debt and leave some new resources for the relaunch of Bruno Magli’s business. “We promise that we will invest the new resources in relaunching the brand in Italy starting from reopening the flasgship store in Venice and keeping operative the shops in the outlets Barberino (Toscana), Serravalle Scrivia (Piemonte) and Agira (Sicilia). We will also strengthen our presence in Japan”, Magli’s chairman Giuseppe Pirola told MF-Milano Finanza.
