Ethica Global Investments, an investment company promoted by Ethica Group, has acquired a majority stake in Manifattura Sesia, an Italian leader in the processing of fine natural fibers into precious, classic and fancy yarns.
The founding families, Baccalaro and Serra, will continue to be active participants in the company's shareholders and top management. In particular, Eugenio Parravicini, will retain the role of CEO and Chiara Serra will remain at the creative direction of the brand.
The acquisition of Manifattura Sesia, which reported revenues of more than €18 million in 2021, joins the acquisition of Lanificio dell'Olivo in 2020 to create a hub for quality Italian yarns. The two companies share a prestigious positioning in the world of yarn as they are complementary in terms of products and geographic coverage, and believe in similar values, including sustainability, innovation, quality and service.
"Manifattura Sesia represents an important step in our strategy of creating a hub of quality Italian yarns: the common values, complementarity of products and geographical coverage will allow us to realize synergies, for example in purchasing, and invest in strategic areas such as sustainability, innovation and service to our customers," explained Vittoria Varianini, president of Lanificio dell'Olivo.
"We are satisfied because the project represents an element of continuity and growth for the company within a structured development plan," - commented Eugenio Parravicini, CEO of Manifattura Sesia. Fabio Campana, CEO of Lanificio dell'Olivo, adds, "Today together with Manifattura Sesia we feel much stronger and even more able to face the difficult challenges of today and the future."