Bahrain-based investment company Investcorp is to buy Italy’s menswear brand Corneliani, Mergermarket wrote. Cornelian reached 130 million euros in revenues last year and counts 150 shops all around the world, with about one third of them based in China.
Investcorp, the same private equity operator which had invested in Gucci and Tiffany years ago, is now in advanced talks with the Corneliani family is order to buy a significant stake in the company and support its international development. The signing of an agreement is expected next June 21st.
Corneliani is led by chairman and ceo Carlalberto Corneliani, joined by brothers Corrado (technical direction), Sergio (creative direction), Cristiano (sales and marketing) e Maurizio (finance and legal affairs).
Investcorp announced its last deal in Italy in November 2014 when it acquired an 80% stake in the iconic motorcycle wear brand Dainese (see here a previous post by BeBeez). Last December the Bahrain-based investment company sold to Lone Star Italy’s leading player in automatic vending machines for hot and cold drinks (see here a previous post by BeBeez), while Investcorp still controls Ceme, an Italian leading manufacturer of fluid control components for household and industrial appliances, this last investment being dated 2008.
