Miroglio Group, the leading Italian textiles and apparel company and proprietor of, among others, the Motivi, Elena Mirò and Caractère brands, has struck an agreement for the sale of the SYM brand and its sales outlets in France with Steilmann Holding AG, the German specialists in men’s and women’s clothing who own the Steilmann, Stones and Apanage brands, as well as the Boecker department stores.
SYM represents a development opportunity for Steilmann in France, as the brand will combine synergically within the group, allowing for the expansion of its distribution network in the country.
For its part, the Miroglio Group intends to concentrate investment on the brands making up its core business.
Both CEOs, Giuseppe Miroglio and Michele Puller, say they are very satisfied with the operation, which further strengthens relations between the two groups.
The deal was completed on 19 November 2012. Advisors for Miroglio Group were BNP Paribas, while Steilmann Holding AG were advised by Zonca Briolini Felli.
Alba / Bergkamen, 22 November 2012