MILAN – Private equity fund JH Partners LLC said it has attained 100 percent control of La Perla Group by acquiring the 30 percent stake held by Alberto Masotti’s Nute Partecipazioni.
Masotti, whose family founded the Bologna-based innerwear company, had retained his title as chairman and a seat on the board when San Francisco-based JH Partners bought 70 percent of La Perla in July 2007. In tandem with the transaction, Masotti will retire from the company.
“This was another step in the process,” said Jeff Hansen, partner of JH Partners and managing director of La Perla. “Acquiring the final 30 percent is further confirmation of our enthusiasm in La Perla and confidence in its growth prospects. In the last year, we have made great strides to turn the company around, improving the efficiency of our operations and profitability of the business.”
For complete coverage, see Wednesday’s WWD.