Piquadro acquires The Bridge

Italian briefcase maker Piquadro has bought an 80 percent stake in Il Ponte Pelletteria, the Florentine leather goods company which owns The Bridge brand for 3.17 million euros.

As part of the deal the two companies, both Piquadro and Il Ponte Pelletteria will have the option to acquire the remaining 20 percent in 2021 and then in 2023.

Il Ponte Pelletteria established The Bridge in 1969 and it currently employs sixty people at the Scandicci plant, as well as 25 staff members in the network of single-brand shops, who Piquadro president and chief executive officer Marco Palmieri said are expected to be maintained.

The Bridge manufactures its collections in Tuscany and is known for producing collections of full-grain leather and Anglo-Tuscan styled products that use naturally treated leather with a cognac tone.

Palmieri said this acquisition will help the Piquadro Group to “start a process of combining accessories brands in the premium segment with strongly iconic features, with which to share processes and best practices.”

He added: “I fell in love with The Bridge brand when I visited the best vintage markets around the world and found the doctor’s bag, the shoulder bag, trunks, suitcases, collectables for connoisseurs. The craftsmanship, a local footprint, an environmentally friendly approach and iconic appeal are features of this extraordinary and unique brand that, if properly exploited, can ensure significant growth. Its positioning, which is complementary to Piquadro, will allow the Group to generate synergies in various areas, including for distribution, industrial and financial purposes.”

Images: courtesy of Piquadro