PE Tech Report

NEWSLETTER

Like this article?

Sign up to our free newsletter

Neuberger Berman-backed Marquee Brands to acquire Bruno Magli

Marquee Brands LLC announced today that it has reached a definitive agreement to acquire the Bruno Magli brand and related intellectual property assets from Bruno Magli Spa. 

The transaction is expected to close in early 2015.

Founded in 1936, Bruno Magli is among the original Italian luxury brands. Combining a rich heritage and classic style, the brand has produced fashion footwear for a global consumer base including celebrities and royals throughout its nearly eighty years.

“Marquee Brands was created to acquire and grow high quality brands through product and geographic expansion. Bruno Magli is one of the most revered Italian legacy brands. We have already begun to secure partnerships in new categories with true best-in-class partners for growth at better retailers across the globe,” says Michael DeVirgilio, President of Marquee Brands.

“Rarely do brands with the stature of Bruno Magli become available with an untapped opportunity to market, expand and grow into a lifestyle brand. We have a thorough brand strategy already created that will allow it to naturally develop into new categories,” says Cory M Baker, Chief Operating Officer of Marquee Brands. “Bruno Magli is the epitome of luxury and we are excited for this to be our first jewel in the crown of a growing portfolio.”

Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, Marquee Brands will continue to build a portfolio of high-quality brands.

“Similar to Bruno Magli, we will seek to acquire brands which we can grow through our global footprint across 17 countries, relationships with best-in class partners and the management expertise of Michael and Cory. We look forward to building long-term value for Bruno Magli and other leading brands as we move forward,” said Zachary Sigel, Principal of Neuberger Berman and Director of Marquee Brands, who is responsible for brand acquisitions for the Company.

While Bruno Magli’s corporate office will be based out of the New York headquarters of Marquee Brands, keeping in line with Marquee’s investment thesis, the core footwear and leather products will continue to be designed in Bologna and made in Italy in order to maintain the integrity and artisan workmanship.

Marquee Brands was advised by Cleary Gottlieb's Milan office and Studio Gnudi in Bologna, Italy.

Like this article? Sign up to our free newsletter

MOST POPULAR

FURTHER READING

Featured