Safil has bought 100% of the business of Erredi.

K Finance has advised the buyers. Safil (www.safil.it) is active in the production of worsted yarns. Erredi (www.erredi.it), a former client of Safil, is active in the  production of pure wool yarns.

The buying of Erredi will allow Safil, that had a turnover of more than Euro 38MM in 2009, to increase its turnover to about Euro 50MM and the production to about 6-7 millions of Kg of yarns. Cesare Savio, President of Safil, said: “This deal is the last step of a long-time collaboration with Erredi, a company of which we’ve always appreciated the technical know-how and the thorough knowledge of the market that will allow Safil to widen its products’ range”. Legal advisory has been performed by Alberto Calvi di Coenzo, founding partner of Avvocatidiimpresa (www.avvocatidiimpresa.it), a newly born boutique specialised in investment deals.