Italian private equity firm Progressio SGR has exited its stakeholding in Save The Duck, a 100% animal-free down jacket brand and the first fashion company in Italy to obtain B-Corp certification.
Two entrepreneur-managers, Reinold Geiger and André Hoffmann, respectively Chairman and CEO of the multinational corporation L’Occitane International SA, who already owned a minority interest in Save The Duck alongside Progressio and other minority shareholders, have acquired a majority interest in the business from Progressio SGR and the other minority shareholders.
Both Geiger and Hoffmann are investing in their personal capacity through certain investment vehicles controlled by them, namely Société D’Investissements Cime SA and Anatra Investments Limited.
Nicolas Bargi, founder and CEO of the company, representing the third generation entrepreneurs operating in the textile business through his family business Forest Srl, is still at the helm of Save The Duck. Geiger and André Hoffmann will hold a total of 80% of the company’s capital, while the remaining 20% will remain in the hands of Bargi.
