Fenicia Spa, the parent company of the well-known brand Camicissima, acquires Nara Camicie, a brand owned by Passaggio Obbligato SpA, which belongs to the Annaratone and Gaggino families as well as to the designer Mario Pellegrino.
Fenicia Spa was represented by Equita K Finance, the Italian partner of Clairfield International and part of Equita Group, and Translink Corporate Finance as financial advisors, the law firm Gianni & Origoni for the legal part and PwC for the due diligence and tax part.
Passaggio Obbligato SpA and the sellers were assisted by Andersen at all stages of the sale process, both as financial advisor and for tax, contractual and labour law aspects.
The take-over, planned and desired by the founders of Camicissima, respectively CEO and President, Sergio and Fabio Candido, was born from the idea of creating a holding company of leading brands in the men’s and women’s shirts segment, in Italy and abroad. A project that has been among the objectives of the two entrepreneurs since Camicissima was founded in 2004 and that will help consolidate the positioning in the B2c fashion sector of Fenicia, a company that had a turnover of €53 million in 2019, up 8% on the previous year and with an Ebitda of 13%.
For the newly acquired Nara Camicie, founded in 1984 by the Milan entrepreneur Walter Annaratone and a leader for over 30 years in the production and distribution of women’s shirts, the new course will begin with a restyling and a timely expansion strategy: the offer will focus on a lifestyle line, high quality sartorial, trendy and contemporary garments, with the ultimate aim of satisfying a wider market share and opening the doors to a younger clientele as well. From a commercial point of view, a series of innovative flagship store openings are planned, with a focus on international markets, inclusive of the ones not yet explored by the brand such as the Middle East, Eastern Europe and Africa.
“Negotiations for the acquisition began in spring 2020, in the midst of the pandemic, and we are delighted to be able to announce the excellent result of this project at a time of recovery and confidence in the future. The acquisition of Nara Camicie is fully in line with Camicissima’s growth strategy, both in terms of expanding its market offering and business growth, and in terms of geographic markets,” comments Fabio Candido, President of Camicissima.
The innovative concept store that will distinguish the new Nara Camicie doors will be in line with the launch of the renewed style of Camicissima stores (Linate), where elegance and refinement are combined with an interactive and technological touch. A new face for the company that will strengthen its excellent geographical positioning: the brand Camicissima is in fact present in Italy and abroad, with a coverage of 31 countries for a total of 350 shops in the world, including 91 direct stores and 30 stores in franchising on the Italian territory, 180 stores in China and other 49 shops in the rest of the world.