Garmont boots have a new owner. The Riello Investimenti Partners fund acquired majority ownership of the Treviso-based company, which focuses on the manufacturing of technical/sporty footwear and outdoor and tactical shoes. Latest revenue: over 20 million euro. “After many years of effort, I believed it proper to sit down to speak with people with which I readily shared the brand’s strategy to start a new itinerary”, says Garmont’s president, Pierangelo Bressan.
The investment fund led by Nicola Riello communicated the closing of the deal to buy 65% of Garmont International. The closing should take place by the end of March. Current president and CEO of Garmont, Pierangelo Bressan, will maintain 30% of the remaining quota and current roles. Terry Urio, CFO of Garmont, will receive 5% of the capital.
“I started this adventure almost by case, moved by the goal of re-launching the standing of an historical brand – commented Bressan -. After many years of hard work, I believed it proper to sit down to speak with people with which I readily shared the brand’s strategy”. All “to start a new itinerary focused on growth and the strengthening of Garmont at an international level. I was flattered by the trust that the new owners have given to me, confirming my role to lead the brand”. Riello, meanwhile, pointed out how Garmont “perfectly represents, as far as size and quality goes, the perfect example for Made in Italy. It operates in a segment that is growing fast, make products that are particularly liked abroad and thus are even more likely to grow”-.