PPR&Nbsp; To Acquire Italy Jewelry Brand Pomellato

2011/5/19 15:23:00 71

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PPR group's acquisition desire seems to be expanding recently.

The French PPR group, which owns the Gucci and Puma brands, decided on Tuesday to buy all the shares of Volcom, and also put the tentacles into 18% of the top jewelry brand of Italy owned by the Damiani family.

On Thursday, PPR spokesman did not comment on the news.

Italy jewelry brand Pomellato

It's not hard to understand why there are so many companies.

Damiani

Shares in Pomellato are drooling because Pomellato is already one of the few top jewelry companies in the world that remains independent.

Andrea Morante, executive director of Pomellato, as a high-profile entrepreneur and bank investor, will provide opportunities for these acquirers in 2013.

Although Guido Damiani, President of Damiani, declined to comment on the acquisition of PPR, he said his dream was to build a high-end jewellery group in Italy, but unfortunately no advance was made so far, so the family was willing to consider the choice of shares.

Sources revealed

LVMH

Group acquisition

Jewelry brand

Bulgari's revenue nearly doubled last year, which shocked high-end jewellery companies.

Meanwhile, PPR revealed that on Thursday, the group has issued a statement with the securities and Exchange Commission to complete the Volcom bidding of the group.

The tender will end in June 9th this year.

A statement made by the California sports brand includes a proposal by the board of directors that the holders of shares will accept a bid of $607 million.

PPR's offer is $24.5 per share, with an additional 37% of Volcom's three month average stock price.

The takeover is just the first step for PPR to build its strong market with Puma as its core. The ultimate goal of PPR is to make the group itself overshadowed by Gucci, Bottega Veneta and Yves Saint Laurent.