Giglio 1973 acquires the Bologna-based company Paolo Castelli
The group led by Tarik El Ouariti has won the auction for the business unit it had already been managing for several months. The development phase is now set to begin
by R.I.T
Giglio 1973 has won the auction for the acquisition of Paolo Castelli, a ‘Made in Italy’ design brand specialising in high-end furniture. According to the press release, the transaction “ensures the continuity of the company’s production, commercial operations and workforce, and represents the natural conclusion of the process initiated in recent months, during which Giglio 1973 managed the business unit, preserving skills, commercial relationships and design expertise”.
A new phase of development is now beginning, led by Tarik El Ouariti, chairman of Giglio 1973, which will be based on “a strategy of industrial and international growth”, the company explains. Paolo Castelli will, in fact, become part of an integrated production ecosystem that brings together specialist expertise in glass and metalworking, lighting and design technologies, enabling greater control over the supply chain and product delivery times, greater efficiency and a higher degree of customisation.
“The acquisition of Paolo Castelli represents a long-term industrial investment in a brand that embodies Italian manufacturing excellence,” says Tarik El Ouariti. “Over the past few months, we have been working to ensure its continuity and preserve its value. Today we can embark on a new phase of growth, supported by an integrated supply chain that will further strengthen the brand’s competitiveness on international markets.”
The new owners aim to “consolidate Paolo Castelli’s position in the high-end design and contract sector, expanding the company’s capacity to develop complex projects and comprehensive solutions for architects, developers, investors and general contractors”, adds the chairman.
The integration of Paolo Castelli into Giglio 1973’s industrial strategy will also make it possible to ‘accelerate investment in innovation, sustainability, materials research and international development, capitalising on synergies with the group’s other manufacturing operations in the region, whilst preserving the wealth of expertise, design quality and ‘Made in Italy’ heritage that have always distinguished the Paolo Castelli brand’.
