MILAN — Italmobiliare SpA, the investment group owned by the Pesenti family, finalized the acquisition of a 40 percent stake in outdoor footwear and ski equipment specialist Tecnica Group for 60 million euros on Thursday.
The agreement was signed between Italmobiliare and the Zanatta family, which founded the group in 1960.
Tecnica Group, which according to the company is expecting to close 2017 with revenues of 370 million euros, up 12 percent on-year, operates a rich brand portfolio. Along with the namesake Tecnica outdoor shoe and ski boot brand, it includes a range of specialized labels, such as Nordica, Moon Boot, Lowa, Blizzard and Rollerblade.
The company in May 2016 acquired Italian private equity fund Clessidra Sgr for roughly 20 million euros.
“Italmobiliare will be able to guarantee, through its financial and management support, the execution of diversification plans, along with boosting the group’s growth …. We think that this investment integrates perfectly into our portfolio, reinforcing its profile in a sector with great growth potential,” said Carlo Pesenti, chief executive officer of Italmobilirae, in a statement.
According to Tecnica Group chief executive officer Antonio Dus, the company’s brands are all registering growth this year. For example, Tecnica and Moon Boot’s revenues have increased 11 percent and 50 percent, respectively, compared to 2016.
The group generates 94 percent of its business outside Italy. Germany and North America are the leading markets for Tecnica Group, which in 2016 presented an industrial plan aimed at significantly increase the companies’ revenues to 500 million euros.
“We defined this goal by evaluating the potential of each brand, and the plan includes projects specifically designed for each label,” said Dus, who noted that Tecnica group is investing mainly in product innovation, digital distribution, and the implementation of production and logistic solutions.