Prada acquires 10% stake in Italian leather group Rino Mastrotto
Tweet
Share
E-mail
People stand outside a Prada store in Galleria Vittorio Emanuele II in Milan, Italy, January 10, 2025. REUTERS/Claudia Greco/File Photo
MILAN (Reuters) - Prada said on Thursday it acquired a 10% stake in Italian leather group Rino Mastrotto, as the luxury group aims to tighten its grip over the production process.
Under the deal, Prada will confer to Rino Mastrotto two tanneries - Italy's Conceria Superior and France's Tannerie Limoges - and said it will make a cash investment, without specifying the figure.
"Investing in Rino Mastrotto allows our group to strengthen its control over a highly strategic phase of the production process", Prada's Chairman Patrizio Bertelli said in a statement.
Rino Mastrotto, backed by private equity firm Renaissance Partners, produces leather for the luxury, automotive and interior design sectors.
(Reporting by Elisa Anzolin)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- China rushes to minimise risk from mountain barrier lake near border with Nepal
- Iran war diplomacy turns toward reopening Strait of Hormuz
- Shares turn cautious ahead of Warsh speech; FX, bonds hold breath
Create E-mail Alert Related Categories
ReutersSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
