The French firm Groupe RG acquires Morganti and the Kapriol brand

Morganti, a long-established, small Lombardy-based multinational founded in 1927, is changing hands. The company operates in around seventy markets and specialises in the design and marketing of personal protective equipment (PPE) and technical workwear, and is the owner of the Kapriol brand. The buyer is Groupe RG, a French market leader and key player in Europe in the specialist distribution of PPE. Groupe RG is a portfolio company of the Ardian and Latour Capital funds.

At Morganti, an SME with a turnover of around 73 million in 2025, Franco Morganti will remain as chief executive, alongside his brother Alberto as general manager, together with the current management team, as requested by the new French owners. This will be a smooth transition, as there will be no changes to the organisation – neither in the areas of design, research and development, nor in production and marketing – all of which will remain in Italia.

“In recent years, we have received many offers that we never accepted because there was no business plan that we liked,” explains Franco Morganti. “Discussions with the RG Group began a year ago, and we agreed on a development plan for the future that won us over. Furthermore, we are planning to invest in the RG holding company.” Indeed, Franco and Alberto Morganti will acquire shares in Groupe RG, whilst the transaction is due to be finalised by the end of October.

With the incorporation of the new company Kapriol – which brings together all of Morganti’s operations – into Groupe RG, the French multinational will achieve a turnover of over 700 million euros, placing it amongst the top three European companies in the sector. In particular, Groupe RG specialises in supplying PPE to large companies and in the B2B market; it operates not only in France but also in Belgium, Spain, Italia, Germany, Ireland and Tunisia, with the aim of reaching €1 billion in revenue within four to five years, whilst remaining open to further acquisitions. Furthermore, Groupe RG is stepping up its international growth strategy through targeted acquisitions, and with the integration of Morganti, it is accelerating the group’s positioning within specialist distribution channels, building materials retailers and professional chains.

“Morganti is a company with an extraordinary history, a well-established reputation and in-depth knowledge of the Italian and European markets,” emphasises Pierre Manchini, Chairman of Groupe RG. “We share the same entrepreneurial culture and the same commitment to building close relationships with customers. By combining its product expertise, the know-how of its team and the strength of the Kapriol brand with our local presence, our logistical capabilities and our close relationship with customers, we will have new resources to accelerate its development in Europe. ‘This acquisition represents a significant milestone in our strategy and strengthens our ability to offer, through our various distribution networks, an increasingly comprehensive, innovative and tailored range to meet the needs of professionals.’ The deal marks a strategic turning point for the long-established Lecco-based company, enabling the Kapriol brand to accelerate its international expansion in a European security market undergoing significant consolidation. By joining Groupe RG, the company – which is approaching its centenary – secures long-term stability and competitiveness, leveraging the French group’s extensive distribution network to generate immediate cross-selling synergies across workwear and personal protective equipment.