June 17, 2021
Fenicia SpA, the Milan based group owner of the well-known men’s shirt brand Camicissima, announces the acquisition of Nara Camicie.
Fenicia SpA, owned by the Candido family, closed 2019 with a turnover of €53 million, enjoying a growth of 8% from the previous year, and an EBITDA margin of 13%. The Group counts 350 stores in 31 countries around the world: 121 in Italy (of which 91 are company owned and 30 are in franchising), 180 in China and 49 in the rest of the world.
Nara Camicie is owned by the Annaratone and Gaggino families together with the lead designer Mario Pellegrino. It has a rich heritage since 1984 as a market leader in the production and distribution of women’s shirts at international level.
Translink Corporate Finance (Sabina Grisorio, Partner and Jeh Patel, Analyst) and Equita K Finance acted as financial advisors to Fenicia SpA. Gianni & Origoni was the legal advisor and PwC provided the due diligence and fiscal advice. The sellers were advised by Andersen.
Fabio Candido, chairman of Camicissima, declared, “The negotiations for the acquisition started in spring 2020 in the middle of the pandemic, and we are pleased to be able to announce the excellent result of this project in a period of recovery and confidence in the future. The acquisition of Nara Camicie is whole part of Camicissima’s growth strategy in terms of expanding our product offering, business and geographic market”.
Sabina Grisorio, Partner of Translink Corporate Finance, declared, “When I presented the acquisition opportunity to the Candido brothers, I was sure it was the perfect match. I see great potential for expansion from this acquisition as Sergio and Fabio Candido have the right abilities and resources to support the business’ development in the coming years”.
Contact our Team Members advising in this transaction:
Translink Strempel & Co. is the partner firm of Translink Corporate Finance in Italy composed of seasoned finance professionals who have matured extensive experience in a variety of sectors and disciplines within some of the most important players both nationally and internationally in industry, finance and management consulting.