Brands Partners acquires operations of Pepper Industries
27 Dec '05
1 min read
Gruppo Fin.part, the troubled Italian clothing and textiles company, declared bankrupt in October has entered into an agreement with Brands Partners to foresee the sale of the company's Pepper Industries subsidiary, agreed some nine months ago.
Pepper Industries, which is now known as "Industries", has now become a part of Italian clothing company Brands Partners.
The Milan-based Fin.part inked a deal to sell Pepper Industries in March, including the Henry Cotton's and Marina Yachting brands and the Cerruti 1881 Blue and Cerruti Jeans licences to Brand Partners for €44 million, effective from April 2006.
The Trebaseleghe-based Brands Partners has also agreed to buy 75 percent stake in French outdoor brand Moncler. All of the brands were part of the former Pepper Industries unit that achieved sales of €185 million in 2004.
Presently, Brands Partners is 65 percent owned by Italian investment company Mittel and Remo Ruffini, the designer of all brands included in the deal, owns the remaining interest.
marketing@alchempro.com
