Recently, Italian high-end sofa manufacturer Gruppo Poltrona Frau and its partner Haworth Inc announced that they have acquired a majority stake in Italian furniture manufacturer Ceccotti Collezioni, and the specific acquisition amount and equity ratio have not been disclosed.
Ceccotti Collezioni is based in Tuscany, Italy. It is mainly engaged in the design, manufacture and sale of high-end solid wood furniture. It was founded in 1988 by Franco Ceccotti with annual sales of 7 million Euros. The brand is currently distributed mainly at two independent brand stores and 150 retailers worldwide, with a staff of 50. After the acquisition, the founder Franco Ceccotti will continue to run the company as CEO and report to Nicola Coropulis, general manager of Gruppo Poltrona Frau.
The acquisition will be carried out through Haworth Italy Holding, Haworth Inc's Italian subsidiary, which will further enrich Gruppo Poltrona Frau's lifestyle division. Previously, Gruppo Poltrona Frau had five major brands: Cassina (top contemporary interior furniture), Cappellini (high-end furniture design and accessories), Poltrona Frau (luxury contemporary interior furniture), Janus et Cie (luxury outdoor furniture) And Luminaire (contemporary design interior furniture) (see "Glory" report: Italian luxury furniture manufacturer Poltrona Frau Group within 5 years of the sword refers to revenue of 1 billion euros).
Franco Ceccotti said: “I believe that after joining Gruppo Poltrona Frau, we will have a huge synergy. Ceccotti Collezioni has a group of loyal users, and the combination with Gruppo Poltrona Frau will further enhance the Ceccotti Collezioni brand and product awareness. We will build a new and more efficient corporate structure based on the roots and values of the brand, grow together with Gruppo Poltrona Frau, and invest to attract new, younger customers."
Nicola Coropulis said: “I am very pleased that we have reached a long-term cooperation agreement. The segment of high-quality solid wood furniture is a good complement to Gruppo Poltrona Frau's brand portfolio and product line. We are particularly optimistic about the huge expansion of Ceccotti Collezioni Potential. Ceccotti Collezioni's current distribution channels are primarily concentrated in the hands of a handful of selected distributors worldwide. Upon completion of the acquisition, Ceccotti Collezioni will benefit from the synergies of Gruppo Poltrona Frau and Haworth Inc's global business and distribution platforms, and Retain the unique and distinctive character of the brand.
Dario Rinero, CEO of Gruppo Poltrona Frau, commented: “We warmly welcome new members. Over the past 30 years, Ceccotti Collezioni has been recognized for its reliability, quality, innovation and passion, these core values and the value of Gruppo Poltrona Frau In the same vein, we will do everything we can to help our new members and drive this Italian-made brand that we are proud of.