Italcer, the holding company created by Mandarin Capital Partners and led by Graziano Verdi, has acquired luxury bathroom brand Devon&Devon, world leader in the luxury bathroom furnishing.
Italcer’s goal is to create a luxury cluster in the ceramic tile sector. It acquired La Fabbrica at the end of May and Elios Ceramica in August . Weith this latest acquisition, Italcer combined revenue will be approaching Euro 100 million.
Devon&Devon exports to more than 80 countries with a network of boutiques, retailers and flagship stores situated spanning Europe, USA, Russia, Middle East, China and Australia.
“The business plan we announced some months ago is operationally being confirmed, day by day, by the quality of the acquisitions carried on by Italcer Group as well,” says CEO Graziano Verdi. “By acquiring this Florentine company, Italcer confirms its focus on luxury and ‘Made in Italy’ design and creativity: Devon&Devon is one of the most prestigious Italian brands.”
By the end of 2018 Italcer aims to have further expanded its range of top brands, with some significant new acquisitions.
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