Baldi & Partners in the sale of A.L.B.A. Srl to Gruppo Florence
Francesca Baldi – Baldi & Partners President
Francesca Baldi – Baldi & Partners President
With the acquisitions of the Tuscan companies EFFEBI and A.L.B.A., excellences of Made in Italy in the production of bags and other leather accessories for some of the most iconic luxury brands, Gruppo Florence, Italy’s first integrated production pole at the service of international luxury fashion, inaugurates its ‘leather goods’ business unit and also consolidates its presence in the intermediate processing sector with the acquisition of ABC Ricami, a company in Pistoia that perfectly combines the typical craftsmanship of embroidery with the use of state-of-the-art machinery.
Founded in 2020, Gruppo Florence is the first integrated industrial cluster in Italy that spans the entire value chain, from product development to production for the international luxury world, with a turnover of more than €600 million in 2022.
The transaction was assisted by some of Italy’s leading advisors:
Baldi & Partners, with a team led by senior partner Francesca Baldi, acted as legal and negotiating advisor to the company’s shareholder A.L.B.A. S.r.l. and advisor Pasquetti & Partners of Florence, with a team led by partner Livio Pasquetti, acted as tax advisor.
DWF, coordinated by Corporate M&A partner Luca Cuomo, assisted Gruppo Florence S.p.A. together with Kpmg and Bonelli Erede.
The shareholders of Effebi and ABC Ricami were assisted by the international law firm Hogan Lovells with a team led by partner Luca Picone. District advisory served as financial advisor to the acquired companies.
In turn, the Florence Group has around thirty Italian manufacturing excellences and signed an agreement on 25 May to sell its majority stake to the Permira fund.
