Piquadro in talks with Richemont to buy Lancel
13/03/2018 07:43
March 13 (Reuters) - Italian high-end briefcase maker Piquadro PQ.MI said on Tuesday it
had started exclusive negotiations with luxury goods group Richemont CFR.S for the potential
acquisition of French leather goods maker Lancel.
The Italian company expects the acquisition of Lancel to be completed in the first half of
the year, if the outcome of due diligence is positive and if the two companies reach a final
agreement.
The acquisition of Lancel, which has undergone restructuring in recent years, would
represent another step in Piquadro's expansion plans which started with the acquisition of
Tuscan leather goods maker The Bridge at the end of 2016.
(Reporting by Silvia Recchimuzzi in Gdynia; editing by Jason Neely)
((silvia.recchimuzzi@thomsonreuters.com; +48 58 772 0920;))