Italy’s Cassina Acquires High-end Furnishings Brand Zanotta
MILAN — High-end Italian furnishings company Cassina SpA announced Wednesday that it reached an agreement to acquire Zanotta, fellow upscale furniture company.
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Guided by the art direction of legendary architect and artist Patricia Urquiola, Cassina is a leading voice for design throughout the world. In a press release, Cassina said it will coordinate Zanotta’s activities and future development plan.
“We will take care of Zanotta and work towards generating the greatest attention for it to grow worldwide,” Cassina chief executive officer Luca Fuso said.
Zanotta is an Italian furniture company particularly known for the iconic pieces of Italian design it produced in the 1960s, ’70s and ’80s, including the “Sacco” beanbag chair and “Blow,” the first mass-produced inflatable chair.
Zanotta will join the other prestigious furnishing, lighting and accessories brands controlled by the Haworth Lifestyle Design group (formerly known as Poltrona Frau Group): Cassina, Cappellini, Ceccotti, Karakter, Poltrona Frau, Luxury Living, Janus et Cie, lighting and accessories brand Luminaire and Interni, among them.
“With the arrival of Zanotta we have added another shining star to our bright sky, confirming HLD group’s vocation to identify, attract and develop the best organizations from the global design scene,” Haworth Lifestyle Design CEO Dario Rinero said in a statement.
Founded in 1954 in Nova Milanese, Zanotta is recognized as one of the major players in the history of Italian design. Led by its founder Aurelio Zanotta, it has produced emblematic and innovative products defined by technological research and high-quality materials. It has collaborated with some of the most important Italian architects and designers, including Gae Aulenti, Achille and Pier Giacomo Castiglioni, Alessandro Mendini, Carlo Mollino, Bruno Munari and Ettore Sottsass.
With a turnover of approximately 25 million euros, Zanotta operates in both the residential and contract markets and is available in more than 700 specialized stores in 50 countries around the world.
The company was not immediately reachable for comment regarding the value of the transaction.
“Following these years of intense work, which have brought Zanotta back into the spotlight, I am happy that this wonderful company can continue its journey side by side with an important player like Cassina, which will help it to make the most of its potential,” Zanotta’s CEO Giuliano Mosconi said.
With a turnover of 850 million euros and 2,200 employees, Haworth Lifestyle Design group is today one of the largest companies in the world operating in this sector. It is part of Michigan-based Haworth Inc., which has a turnover of approximately $2.5 billion and 7,500 employees worldwide.
Aided by demand to renovate and update personal and commercial spaces, Italy’s dynamic wood furnishing sector saw a 12.7 percent rise in 2022 versus 2021, increasing its value to 57 billion euros versus 43 billion euros in 2019, according to preliminary figures for 2022, released by wood furnishings consortium Federlegno Arredo. Due to buoyant sales sector-wide and robust growth in international markets, industry experts expect a rise in mergers and acquisitions in the medium term.
As Italian firms prepare for Milan Design Week, which runs from April 17 to 23, eyes will turn to the full year 2023 outlook.
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