Rino Mastrotto Group buys Carroll Leather, US-based division of Carroll Companies, active in the commercialization of leather objects for the interiors’ segment. The Vicenza-based tanning group hopes that this operation will let it develop on two fronts. “This deal gives us the chance to get US consumers to know our interiors’ business unit – comments the CEO Matteo Mastrotto (on the right in photo) -, which is the Group’s smallest as of today, with the goal of making it worth 20% of the revenue. America is a strategic market for us”. The transaction caused the spin-off of Carroll Leather from Carroll Companies and the transfer of RMG Leather USA.
Rino Mastrotto Group buys Carroll Leather
Carroll Leather is located in North Carolina, it employs about 25 people and has a revene of around 30 million USD a year. Created in the 70s’ as a retailer of wallets, it become specialized in the commercialization of high-end leather for the interior design market and hospitality segment. “We join the two companies that have a unique position and experience – continues Matteo Mastrotto -. We were looking to expand our business in the USA and knew that Carroll Leather was the right company to help us. The merger between our strengths in manufacturing high-quality leather and marketing experience, with the service offered by Carroll Leather, will create the main premium-leather supplier in the United States, for the interiors’ segment”.
The founding family and NB Renaissance (with the participation of NB Aurora), control Rino Mastrotto Group. Matteo Mastrotto covers the role of CEO, while Rino Matsrotto (in the middle in photo) is the president. What is the Group’s view now? “Our focus is the luxury segment – answers Matteo Mastrotto -. We have 3 core businesses: fashion, interiors and vehicles. Diversifying helps us maintain a balances and sustainable growth, which in terms helps us weather difficult times or crisis”.
The acquisition of Carroll Leather is part of a wider strategy that, now, has to deal with the pandemic. “Our fashion division grew greatly over the years and today represents our biggest pride – continues the CEO -: fashion works because it’s globalized. China and USA are important markets and are back to pre-Covid levels. The recovery in Europe is only beginning to be visible and expectations for the second part of the year are positive”. The ambitions don’t end here. “We hope to grow organically, as well as with strategic acquisitions – concludes Matteo Mastrotto -, such as that of Carroll Leather in the USA, which allows us to double our size for the interiors’ business unit. We believe that, even with the difficulties and uncertainty currently present, 2021 will be a satisfactory year”.