European Commission
Commission clears acquisition of Gruppo Florence by Permira
The European Commission has approved, under the EU Merger Regulation, the acquisition of sole control of Gruppo Florence S.p.A. of Italy by Permira Holdings Limited (‘Permira') of Guernsey.
Gruppo Florence is active in the development and production of high-end apparel, footwear and leather goods for luxury brands. Permira manages private equity funds, which include portfolio companies active across the consumer, services, healthcare and technology sectors. Permira controls, amongst others, the companies: (i) Golden Goose S.p.A, active in retail sale of luxury shoes, apparel and leather accessories; and (ii) Italian Fashion Team S.r.l., active in the manufacture of luxury apparel, footwear and leather goods.
The Commission concluded that the proposed acquisition would raise no competition concerns, given the limited horizontal overlaps and vertical links between the companies' activities in the European Economic Area. The transaction was examined under the simplified merger review procedure.
More information is available on the Commission's competition website, in the public case register under the case number M.11185.
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