Etro, the family exits the capital and sells to a pool of investors
Turks from Rams Global, Swinger and SRI Group acquire minority shares. L Catterton remains majority shareholder
Key points
Etro, the Italian luxury lifestyle brand, enters a new phase of development. A pool of industrial investors consisting of Rams Global, Mathias Facchini (Swinger International) and banker Giulio Gallazzi (through Sri Group), in agreement with L Catterton, acquired the minority stake previously held by the Etro family. L Catterton remains the majority shareholder and will continue to actively support the brand's long-term growth strategy. The company announced this in a statement.
L’operazione
The transaction is aimed at strengthening Etro's industrial and strategic capabilities, 'while confirming strong external confidence in the brand's positioning and future potential'. Financial terms were not disclosed, but, the valuation is higher than that of L Catterton's original investment, the company says.
Governance
The current CEO, Fabrizio Cardinali, "will remain a central figure in Etro's future, continuing to lead the execution of the strategic plan in close collaboration with L Catterton, Rams Global and the new investors," the note continues. Faruk Bulbul, representing Rams Global, will be appointed Chairman of the Board and will work closely with the CEO and shareholders to support the next phase of growth. Rothschild followed the transaction as advisor to the company and the two shareholders, Gefin and L Catterton.
