MILAN – Haworth Inc. claimed its Italian unit Lifestyle Design experienced signed an settlement with Progressio SGR to purchase the personal equity firm’s vast majority stake in Italian substantial-close interior style and design team Interni.
The Life-style Structure from Haworth, which ranks 7th in the FDMC 300, controls Italian home furniture brands this kind of as Poltrona Frau, Cappellini and Cassina as very well as Ceccotti, DZine, Karakter, JANUS et Cie, Luminaire e Luxurious Dwelling.
Interni, which operates via 13 shops in Italy and the Uk, is envisioned to report revenues of 40 million euros in 2021, a statement reported.
Progressio, which specializes in investing in Italian smaller- and medium-sized enterprises, acquired a 70% stake in Interni in 2019. The remaining 30% is owned by the Cazzaniga loved ones.
Money aspects of the transaction were not disclosed.
“Via this acquisition, Way of living Layout carries on its commitment to sign up for in federation the most effective product and distribution enterprises functioning in the higher-finish furniture market”, Lifestyle Design and style CEO Dario Rinero mentioned.
Established in 1933 in a household furniture district north of Milan, Interni is even now led by the Cazzaniga loved ones.
CEO Stefano Cazzaniga, who took more than in 2019 from his father Giuseppe, will report to Rinero.