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calligaris2018
Calligaris will look to grow its international presence following the takeover
The founding family of Italian designer furniture company Calligaris has sold a majority stake to private equity in a move that will help the business make strategic acquisitions of its own and grow bigger internationally.

 

Alpha Group, a Milan based pan-European private equity house, will acquire 80 percent of the business from the Calligaris family, who will retain the remaining 20 percent stake. Terms were not disclosed.


The transaction is timed to take place this autumn, as the Manzano business celebrate 95 years since its inception in Italy's northeast, one of the country's traditional furniture manufacturing strongholds.


Alessandro Calligaris, whose grandfather founded the business, will remain president of the company. It is the second time the family have sold shares in the business, having sold to a different investor more than a decade ago before later buying the shares back again.


Calligaris, best known here for its modern dining furniture, grew sales 7 percent to €140 million last year, booking adjusted profits* of €23 million. It sells through around 620 stores around the world, including a number which are run as monobrand Calligaris showrooms.


Alpha's takeover of the business will help it expand international as well as diversify into complementary furniture markets besides dining, with targeted acquisitions a possible route to do, according to its new owner.


* earnings before tax, depreciation and amortisation