News Bureau

August 11, 2017

Gang Tai Group acquires Buccellati

Buccellati Equity delivery, Gang Tai Holding’s Significant asset restructuring to achieve critical progress

85% stake in the delivery ceremony was held in Milan, Italy. Italian Economic Development Department, Pirelli and Italy China Foundation, the Chinese business association in Italy, China's economic and trade sector, the Italian trade and other leaders and representatives were invited to attend the event, together to share the two companies in the economic and trade sector (600,687) from the completion of the acquisition of international luxury brand Buchi Lati (Buccellati) has entered an important step.

In this transaction, the Gangtai Group acquired an 85% stake in Buccellati for € 195.5 million. After the acquisition, Buccellati's original management team and family members remain unchanged and will continue to participate in corporate governance and operations.

It is particularly worth mentioning that, for the Asia-Pacific market in recent years, the wave of consumer upgrades, Gang Tai and the board of directors reached a high degree of consensus, plans to invest a lot of money and manpower in the next three years, the first-tier cities in the layout Buccellati terminal Stores, to every jewelry lovers to pass its brand spirit and product essence.

As the world's longest economic corridor, "along the way" covers more than 60 countries in Europe and Asia, along the total population of 4.4 billion people, but also gave birth to a large number of new market opportunities. According to China International Economic Exchange Center forecast, the next 10 years, China and the countries along the country (including EU member states) bilateral trade will reach 2.5 trillion US dollars.

Buccellati former shareholder Clessidra Fund Company representative Marco Carotenuto said that Buccellati has a unique brand history and product design, manufacturing advantages in jewelry, silverware, watch three Large areas, have a unique product design concepts and production technology, has been in the European and American markets to get a lot of high net worth and the royal family members of all countries of all ages.

For the Buccellati business in the global context, especially in Greater China, Clessidra Fund will sell it to Gang Tai, hoping through the Gang Tai Group and its listed company Gangtai Holdings (600,687) strong capital strength and the company in the Chinese consumer market Of the great appeal to help Buccellati upgrade and further improve its global expansion of the strategic layout.