Leather and finance are still in the spotlight in the very last part of 2020. In fact, in addition to several tanning deals, which took place throughout the year, one more has been carried out by Vesta Corporation, based in Ponte a Egola. The Tuscan tannery has sold off its 70% majority shareholding to Bravo Capital Partners fund.
Vesta divests 70% to Bravo Capital
Bravo Capital Partners is a private equity fund headquartered in Luxembourg. As highlighted in a press announcement, they have bought out 70% of the capital assets of Jackal, a holding company which controlled Vesta Corporation tannery. Sauro Gabbrielli, who is the founder of Vesta, is going to hold the remaining 30% share; he will also keep his position as managing director of the company.
Investments and sustainability
This is one more strategic step for Vesta Corporation, while aiming at development and enhancement. During such journey, right one year ago they inaugurated a larger manufacturing plant: the tannery, which produces leather for footwear and leather goods, holds in its customer portfolio some of the most renowned brands actively playing in the fashion system and technical footwear business.
On top of that, in December 2019 Vesta Corporation was awarded by UNIC – Italian Tanneries as they took a certification, released by ICEC (the Institute of Quality Certification for the Leather Sector), regarding sustainability.
Vesta and more
As regards Bravo Capital Partners, in the last few weeks they also completed one more acquisition in the fashion supply chain business. In other words, as reported by bebeez.it, “they have bought out 100% of Mengoni & Nassini, a company which has been producing and marketing, for more than 30 years, brass and steel accessories for the fashion and luxury industries”. They did it through M&N, a holding enterprise formerly in control over other two manufacturers of accessories for apparel, fashion, and leather goods: namely, Metalworks and FGF.