Hogan Lovells advises firms in Italy’s new luxury production pole

13 October 2020 – International law firm Hogan Lovells has advised the first three Italian companies belonging to the new luxury production pole in Italy named Florence.

The private equity fund VAM Investments, together with Fondo Italiano d’Investimento established Florence S.p.A., through acquiring three leading apparel producers: Giuntini S.p.A., Ciemmeci Fashion S.r.l. and Mely’s Maglieria S.r.l., all based in Tuscany.

The companies are a point of reference in the creative phase for designers from all over the world: Giuntini, founded in Pisa in 1957, is a leader in the production of outdoor wear; Ciemmeci Fashion, founded in Empoli in 1993, specializes in the production of leather, and Mely’s Maglieria, founded in Arezzo in 1956, is a knitwear specialist.

Florence will have 100 percent ownership of the companies but control will be split, with 65 percent going to the consortium led by VAM Investments and Fondo Italiano d’Investimento (through Fondo Italiano Consolidamento e Crescita) and the remaining 35 percent to the founding families of the three companies. The latter will maintain their roles at operational level.

The corporate M&A Hogan Lovells team was led by country managing partner Luca Picone with support from senior associate Martina Di Nicola and associate Celeste Mastrangelo.

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