Pamaf of Antonio Bernardo (formerly Piazza Italia) acquires Kasanova

The interest was already known. Now it is concrete. Kasanova has accepted the acquisition offer from Pamaf, an entrepreneurial holding company founded and led by Antonio Bernardo, for the purchase of 100% of the shares of the company, aimed at the immediate support and relaunching of the business. The Board of Directors of Kasanova - as a result of in-depth industrial, economic, financial and legal evaluations - has in fact decided to accept the offer, considering it "serious, solid and fully suitable to ensure a rapid and positive solution to the business crisis".

The intervention of Pamaf, under the conditions indicated in the binding offer, will in fact allow Kasanova to rapidly complete the reorganisation process already in place and to initiate a new phase of optimisation and modernisation of the business structure, accompanied by a plan to open new sales outlets.

we are very proud," said Maurizio Ghidelli, managing director of Kasanova, "to have received and accepted the offer of a gentleman entrepreneur, a man of values and words who will be able, together with our people and his own, to bring this company to success."
"Pamaf's entry will allow Kasanova," the company's note continued, "to rapidly complete the reorganisation process already underway and to initiate a new phase of optimisation and modernisation of the business structure, accompanied by a plan to open new sales outlets.

Pamaf's interest succeeds that of Ovs, which, last November, had expressed its intention to acquire Kasanova, at the same time announcing a cutback in less profitable shops (Kasanova has around 700) and a cutback in expenses by subscribing to a €15 million capital increase. However, in early February, Ovs had abandoned the acquisition due to unresolved problems on the banking front. A decision that Kasanova had described as 'surprising'. Now the reorganisation process continues.

Pamaf Srl is an entrepreneurial holding company based in Naples. It was founded and is headed by Antonio Bernardo who, in recent months, sold his 37 per cent stake in Piazza Italia to his brother Luigi through his subsidiary Alma, who therefore now owns 100 per cent of the clothing chain.