MILAN — Private equity firm Trilantic Capital Partners Europe said Wednesday it has agreed to acquire a minority stake in Betty Blue SpA, the Italian company controlling the Elisabetta Franchi and Betty Blue fashion brands.
In 2012, Betty Blue posted earnings before interest, taxes, depreciation and amortization of 26 million euros, or $34.3 million, on revenues of 105 million euros, or $138.6 million at average exchange.
The Elisabetta Franchi brand operates 80 stores and sells its collections to more than 1,100 multibrand boutiques worldwide. While Italy accounts for 65 percent of the label’s sales, Russia, the Middle East and Asia represent its most important international markets.
“The entry of Trilantic is based on a shared development plan, which will allow the company and the brand Elisabetta Franchi to significantly accelerate growth in international markets with particular focus on Southeast Asia,” said Elisabetta Franchi, who founded Bologna-based Betty Blue SpA in 1998.
“The company’s combination of creativity, professionalism and efficiency has convinced us to invest in this project,” said Trilantic founder and European chairman Vittorio Pignatti Morano, who also said that the company might go public in the future.