Da Vinci Invest acquires Bruno Magli

Swiss venture capital firm Da Vinci Invest has announced the acquisition of Italian high-end shoemaker Bruno Magli. The former owner and sole stakeholder of Bruno Magli, British private equity fund Fortelus Capital, was said to be in exclusive talks with a Group

of Asian investors.

For the Italian press, the main outcome of this transaction is that of Bruno Magli, acquired in 2007 by the London-based investment fund London Fortelus, will maintain its headquarters in Italy.

The deal was made public by both companies on Thursday, with Swis Da Vinci Invest breaking the news.

Da

Vinci Invest buys Bruno Magli and keeps headquarters in Italy

Bruno Magli's new chief executive Manfred Ebensberger said the new ownership would help the shoe, bag and clothing maker accelerate plans to expand its product range and develop its wholesale network worldwide.

The companies did not disclose the value of the sale, yet advanced the group’s headquarters and factories Will remain in Italy.

Bruno Magli, which was started as a family-run leather products workshop back to the early 1900s, was said to be in exclusive talks to sell it to a consortium of Asian investors, as reported in last October.