Pursuits
Investcorp Buys Luxury Italian Menswear Maker Corneliani
- Acquisition is Investcorp’s third in Europe in the last year
- Buyer will seek to boost Corneliani’s North American sales
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Investcorp Bank BSC, a Bahrain investment house that made its mark in the 1980s with buyouts of high-end retailers Gucci Ltd. and Tiffany & Co., said it purchased a 55 percent interest in luxury Italian menswear maker Corneliani SpA.
It bought the stake from company co-founder Carlalberto Corneliani and other family members in a deal valuing the business at about $100 million, Hazem Ben-Gacem, who heads European corporate investing for Investcorp, said in a telephone interview Monday. The family retained a 45 percent interest.