Tengram Capital Partners is continuing to add to its luxury portfolio.
The Westport, Conn.-based private equity firm on Monday signed a definitive agreement to acquire the Zanella luxury men’s trouser brand. Terms were not disclosed and the deal is subject to customary closing conditions.
Tengram will continue to use Zanella’s existing manufacturing facility and artisans in Vincenza, Italy to produce the trousers, which are sold in high-end department and specialty stores including Neiman Marcus, Nordstrom and Mitchells Family of Stores.
William Sweedler, cofounder and managing partner of Tengram, said Zanella “has achieved strong recognition in the U.S. and continues to be one of the most asked-for brands in all of men’s wear across its key retailers.”
Todd Barrato, chief executive officer of Luciano Barbera, will also serve as ceo of Zanella. Last October, Tengram acquired a majority stake in the Luciano Barbera men’s and women’s brand that is based in Italy’s Piedmont region and brought Barrato on board as ceo.
Over the past few months, Tengram said, Barrato “has recruited an experienced management team of industry executives, several of whom will also dedicate a portion of their time to the Zanella business.” Before joining Barbera, Barrato was ceo of North American operations for Brioni.
“Zanella has a rich heritage and I am honored to join as the new chief executive officer at such a pivotal moment,” Barrato said. “The brand has always been synonymous with high-quality men’s sartorial trousers. I look forward to honoring that heritage, while also defining a more contemporary direction for the business. Tengram Capital has extensive industry experience and we will work together to develop both Zanella and Luciano Barbera into leading Italian luxury brands.”
Brian Thorne, vice president of Tengram, said that since the company made its investment in Luciano Barbera, it “evaluated a number of Italian opportunities [and] found Zanella to be one of the few brands with the ability to quickly scale in the U.S. market.” He said he expects growth to be driven by rejuvenating the company’s core dress pant business and expanding into complementary classifications such as casual pants.
Tengram has investments in Robert Graham, Laura Geller Beauty and Sequential Brands Group. Formerly known as Windsong Brands, the firm bought a stake in Robert Graham in June 2011 and, since that time, has doubled its volume by licensing the name into a number of different categories and opening several stores.