H.I.G. Capital, an international investment fund, has acquired Varcotex, the Italian specialized label manufacturer, through its own portfolio company Cadicagroup, a group specialized in offering accessories to premium and luxury international brands.
The acquisition is the fourth add-on completed by Cadicagroup since 2019 when the fund started its project to create a pole of textile accessory specialists when it acquired the three companies Cadica, Tessilgraf and Bernini, all specialized in producing hang tags and labels.
Varcotex is an Italian vertically integrated company that manufactures hang tags, woven, printed, high-frequency and brand protection elements including holograms, labels integrated with RFID and NFC circuits. It is now also committed to pursue a green-minded strategy.
Varcotex counts 60 employees and €15 million yearly revenues. It was founded in 1982 and bought in 2001 by its present CEO, Paolo Munari, who will remain involved in the management of productive activities of the group.