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3i invests in AP Bags3i, a world leader in private equity, and funds managed by 3i have signed an agreement to invest EUR 118 million for a 49% stake in the handbags and accessories division of Antichi Pellettieri S.p.A., the Italian branded leather accessories group.
Antichi Pellettieri Group is the leather goods division of Mariella Burani Fashion Group.
The involvement and funding provided by 3i, will bring together the brands in a newco, APB Srl ("Antichi Pellettieri Bags" or "AP Bags"), which will be the holding company of 4 handbags and accessories brands: Francesco Biasia, Braccialini, Coccinelle and Mandarina Duck.
3i will provide business development support to assist with further internationalisation of the business, penetrating new markets, particularly China and India, locations sourcing and selection, advertising and promotional management and developing retail operations.
3i's strong brand in Italy where it has had a local team for almost twenty years and its extensive relationships with business leaders has enabled it to attract Giacomo Santucci, ex COO of Gucci Group and ex MD Salvatore Ferragamo, to the board as a non-executive director.
3i's consumer sector has also enjoyed success with businesses such as UK based lingerie brand Agent Provocateur, a current portfolio company, and has recently successfully divested Italian toy brand Giochi Preziosi as well as Asian restaurant chain, Little Sheep which listed on the Hong Kong Stock Exchange in a successful IPO earlier this month.
more: 3i invests in AP Bags
June 24, 2008 | Viewed 42,453 time(s)
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