Textile Firm Gruppo Piacenza Makes Another Acquisition
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MILAN — Gruppo Piacenza SpA is not done with its acquisitions yet.
The Biella, Italy-based textile specialist revealed Friday it has acquired Arte Tessile Snc, a little more than one month after taking over Lanificio Fratelli Cerruti.
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Based in Busto Arsizio in the Lombardy region, Arte Tessile was founded in 1984 and specializes in patternmaking for jacquard and raschel textiles. Its acquisition will provide additional expertise to Piacenza.
Financial terms of the deal were not disclosed.
“The acquisition will enable us to internalize this [textile-making] phase and be more creative and rapid, ensuring service continuity,” said Vasiliy Piacenza, Gruppo Piacenza’s brand manager. He touted the company’s secrecy toward its clients as among its values and anticipated plans to expand the Varese-based company’s portfolio to clients in the furniture and home decor sector.
Gruppo Piacenza has operated a successful business banking on its high-end textiles, also dipping its toes in ready-to-wear via its Piacenza 1733 menswear brand, which showcased its spring 2023 collection at Pitti Uomo last June.
In 2020, the textile specialist acquired Lanificio Piemontese, another Biella-based woolen mill, signaling its commitment to grow its manufacturing scope and in sync with the sector’s mergers and acquisitions environment, defined by increased alliances, as reported.
Last November, the company revealed a takeover of Lanificio Fratelli Cerruti, 10 months after the death of Nino Cerruti, buying out London-based fund Njord Partners’ 80 percent interest in the textile firm and the Cerruti family’s 20 percent stake.
