Bridgepoint acquires Limoni

Published: 4-Jun-2006


Private equity firm Bridgepoint has acquired a 70% stake in Italian perfumery chain Limoni for an undisclosed sum. Founder Piofrancesco Borghetti has increased his stake in the company from 20.3% to 30%, while former shareholders, including De Agostini and Banca Intesa, have relinquished their shares in favour of Bridgepoint.

The Italian perfumery chain is market leader, with 400 stores in its native country and also has 16 stores in Croatia and Slovenia. Consolidated turnover reached €304m in 2005, a rise of 13.6% - no mean feat in the context of the ailing Italian perfumery channel.

"From now on our aim, together with Bridgepoint is to consolidate our business market position and to pursue further growth opportunities through new openings and acquisitions in Italy and abroad. In 2006 we expect to open 60 new perfumeries and we estimate that our consolidated turnover will reach €360m," commented Mr Borghetti in a statement.

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