Home breadcru News breadcru Announcement breadcru Italian brand Brunello Cucinelli acquires 43% of Cariaggi Lanificio

Italian brand Brunello Cucinelli acquires 43% of Cariaggi Lanificio

23 Mar '22
3 min read
Pic: Brunello Cucinelli
Pic: Brunello Cucinelli

Brunello Cucinelli, operating in the luxury goods sector, has acquired from the Cariaggi family a 43 per cent stake in the share capital of Cariaggi Lanificio. The purchase price of the shareholding was €15.05 million, a value that is proportionally close to the current net worth of Cariaggi Lanificio. The purchase was financed entirely with its own means.

Control and day-to-day management of the company will still remain in the hands of the Cariaggi family, which holds 57 per cent of the share capital, Brunello Cucinelli said in a press release.

“It is with a great sense of gratitude that we announce that our company has acquired 43 per cent of Cariaggi Lanificio, of Cagli. I had the opportunity to start my own business in cashmere thanks to the human trust that the Cariaggi and Caprai families placed in me. For this, thank you very much. I have always believed that Cariaggi is perhaps one of the jewels of Italian manufacturing, with products of great quality and craftsmanship; there is no doubt that it should be counted among the first industries in the sector in the world, if not the first, and that it represents something important for our territory and its culture. In this project, I am not hiding my love for our land, as well as the great opportunity that our respective children and grandchildren will have to continue manufacturing products in this wonderful fibre that we call 'golden fleece' for decades to come, thus contributing to improving the living conditions of our people,” Brunello Cucinelli, executive chairman and creative director of the Casa di Moda, said.

"We are very pleased to have completed this transaction, which will allow the company to continue developing products of excellence. We are more than happy with the agreement with Brunello Cucinelli, our long-standing customer, with whom we share a vision of quality, service, innovation and a focus on our people. Commitments that have always featured in our company, recognised worldwide as an excellence. For our company, Lanificio Cariaggi Cashmere has always been the serious supplier of cashmere yarn for knitwear. We believe it represents those truly special, unique Italian products of great quality, craftsmanship and creativity worldwide. On top of a splendid industrial partnership, there has always been a human relationship between the Cariaggi and Caprai families and the Cucinelli family: partners for over fifty year,” Piergiorgio Cariaggi, CEO of Lanificio Cariaggi Cashmere, also on behalf of the family, said.

 

ALCHEMPro News Desk (RR)

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