Msc closed the acquisition of the Genoese Slam

Msc Cruises has acquired Slam, the historic Genoese sportswear company, from Vam Investments, as announced by the group headed by Gianluigi Aponte (who is also the publisher of the Secolo XIX), confirming what had been anticipated by Il Sole 24 Ore on 23 September. Enrico Chieffi, former Olympian, world sailing champion in the Star and 470 classes as well as tactician of the Moro di Venezia in the America's Cup in 1992 (he won the Louis Vuitton Cup), and later manager of Nautor Swan, with Leonardo Ferragamo, has been confirmed at the helm of the company. Chieffi was called by Vam to lead Slam in 2021; he will now hold the position of chairman of the board of directors and also that of managing director, with the prospect of later on maintaining only that of chairman.

The deal, explains a note from the buyer, "reflects Msc's long-term commitment to invest in quality, innovation and Italian know-how, identifying, on a case-by-case basis, partners that are in line with its maritime DNA and strategies. Msc's global presence and international footprint will support the development and visibility of Slam, also on foreign markets, giving long-term stability and growth to the iconic Italian brand, founded in Genoa in 1979, and reinforcing its solid reputation and leadership position in the sailing, yachting and technical-sportswear sectors.

Slam, concludes the note, 'will continue to focus on and invest in its traditional activities, developing, in addition, a new professional division, dedicated to the business-to-business sector, which will include, among other things, the creation of uniforms and company clothing for the Msc group'. With the aim of 'further enhancing the technical expertise and design excellence developed by the Genoese company, while preserving, at the same time, the brand's strong identity, its focus and its success story in technical sportswear'.

Chieffi wrote a letter to the employees of Slam, emphasising, as he himself explained, that the operation 'is an incredible opportunity for growth and allows for very ambitious projects, both in the world of sportswear, which is our core business, and with the opening of this new clothing line, with which we will start by dressing the crews of the Msc ships and then we will see if we can expand to as many realities of the group as possible. In short, it is a great industrial project and there are truly many common values between the two companies'.

The financial advisors are Accuracy, for Msc Cruises, and Dawan Corporate Finance for Vam Investments. On the legal side, the purchasing company was assisted by Rp Legalitax, the selling party by Dwf.