Xenon acquires 100% of Zuma and Casadacqua. The transfer of ownership of the two tanneries, part of the A&A Pelli Pregiate group, to the investment fund was done via the Xenon Private Equity VII fund, managed by Xenon AIFM. The alligator farm owned by A&A in New Orleans (USA) is also part of the agreement.
Deal to grow
Andrea Dolfi, partner of A&A with Antonio Guicciardini Salini, Stefano Pieroni and Giuseppe Baronti, remains the CEO of the tanning group. “It is an extraordinary operation – commented on La Nazione (newspaper) -, which will bring decisive growth to an entity that is still very young. It has been operational since 2018, and manages a turnover of 13 million euro”.
Zuma and Casadacqua to Xenon
According to what reported by bebeez.it, Xenon Private Equity VII takes ownership of A&A via newco XPP Seven, holding that manages other ‘made-in-Italy’ manufacturing companies. A&A’s partners, meanwhile, have re-invested part of their funds to buy 13% of XPP Seven. The Zuma tannery in Castelfranco is specialized in alligator, ostrich and piton. Casadacqua, based in Santa Croce, meanwhile, is specialized in exotic animals such as ayers, elaphe and karung. The New Orleans farm guarantees the production of 35,000 leather pieces per year.
Dolfi, already active in the high-end leather segment, has also been involved with Tuttocuoio in the past, football team of Ponte a Egola. The control of A&A Pelli Pregiate, given to the fund, was financed by a pool of banks made by Banco BPM, Crédit Agricole, illimity Bank and Intesa Sanpaolo, according to bebeez.it.