Overseas Companie are more and more investing in Italy. US company Haworth is buying Poltrona Frau, based in Tolentino, region Marche, famous for its iconic armchairs.
Whatever you might say and think, overseas companies still believe that Italy is a great resource despite this transitory moment. Real investors look forward and invest in our beautiful Country, conscious of the great returns.
Haworth announced an agreement to buy 58.6 percent of Italy’s Poltrona Frau at a price of 2.96 euros per share from the company’s largest shareholders, Charme Investments, which owns a 51.3 percent stake, and Moschini, which owns 7.3 percent of company stock.
The Poltrona Frau Group includes the brands Poltrona Frau, Cappellini and Cassina, known for high design and detailed workmanship in furnishings produced for home, office and other spaces such as hotels, stores and even automobile interiors. Last year, the Chrylser 300′s interiors featured Poltrona Frau elements.
Haworth Chairman Matthew Haworth described the acquisition of the high-end Italian home furnishings company as a good fit for the office furniture-maker.
“Our family is very excited about this opportunity,” Haworth said. “This transaction is not only inspired by the strong performance of the Poltrona Frau Group and what we believe to be highly complementary strategies, but even more importantly, by the great alignment of the values shared by both our families.”
The transaction is expected to be completed in April. As part of the deal, Haworth will spend another 1.9 million euros to acquire a 98 percent stake in a company that owns the factories located in Meda currently leased to Poltrona Frau.