(Finance) – Vincenzo Zucchia company listed on Euronext Milan that operates in the textile sector, has completed the acquisition of the entire share capital of the French company Descamps for a consideration of 4 million eurosthus creating one of the main European realities in the home textile sector which today, thanks also to the activity of Bassetti Home Innovation and new projects in the pipeline, is also active in consumer services in home renovation and home decoration.
“With the acquisition of the French company Descamps, Zucchi expands its range of brands and products, creating a strong link with the important French market – said Joel Benillouche, president and managing director of the group. growth strategy, both internally and externally, on the European markets that will keep us busy for the next three years“.
The Zucchi group, which after the acquisition it has about 1,000 employeesis mainly present on the markets of Italy, France, Switzerland, Germany and Austria with a widespread phygital distribution through 200 direct stores, e-commerce and factory outlets as well as 330 corners in the best Department Stores and a wholesale distribution worldwide.
It is a’related party transaction due to the fact that Descamps is indirectly controlled by Astrance Capital SAS, wholly owned and managed by Joel David Benilouche (president and CEO) and Florian Gayet (director of the company).