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The acquisition points to a new path for Moncler, not so long ago, seen as a target rather than a buyer.
“I have always worked to build a strong brand where uniqueness and proximity to the consumer have been the cornerstones of a development that always goes beyond trends and conventions”, said Remo Ruffini, Chairman and CEO de Moncler, in a statement. “Sharing the same vision brings us today to join forces with Stone Island to write our future together. Led by a renowned entrepreneur, Stone Island is a great success, a company that has built an exceptionally strong relationship with its community, offering a very distinctive product, thanks to unique technical skills and absolute clarity in its positioning. It is a story of Italian excellence.
Carlo Rivetti, Chairman and CEO of Stone Island, said the company’s head office in Ravarino “will remain the beating heart of the brand and a center of excellence that will be further strengthened and my team and I will continue, in our roles. current, doing what we have been doing with passion for many years. This is a partnership which represents a great opportunity for the continued development of the two companies and which will help Stone Island to accelerate its international growth through Moncler’s experience in the world of physical and digital retail.
The agreement was signed between Moncler and Rivetex Srl, a company attached to Carlo Rivetti, owner of a stake equal to 50.1% of the capital of Sportswear Company and other shareholders of SPW, attached to the Rivetti family, owners a participation equal to 19.9% of the SPW Capital.
The deal values Stone Island at 1.15 billion, corresponding to a multiple of 16.6 times 2020 EBITDA and a multiple of 13.5 times 2021 estimated EBITDA.
The consideration for the purchase of the shares will be paid in cash by Moncler.
It is also expected that Rivetti, after the closing of the transaction, will join the board of directors of Moncler.