M&A advisors support deal in Italy’s furniture industry

27 August 2021 Consultancy.eu 2 min. read

Italian furnishing company Colombini Group has acquired a majority stake in counterpart Bontempi Casa. 

With its Rossana, Febal Casa, Colombini Casa, Offic’è and Colombini brands, Colombini Group is one of Italy’s leading designers and manufacturers of furniture for clients in the residential, hôtellerie and commercial sectors. 

The acquisition of Bontempi Casa, which is based in Camerano (in the province of Ancona), adds around €35 million to its turnover, lifting the firm closer to its goal of becoming a €250 million company by 2025. “Thanks to the 60% acquisition of Bontempi Casa, we are well ahead of our growth path outlined in our five-year strategy,” said Giovanni Battista Vacchi, the CEO of Colombini Group. 

M&A advisors support deal in Italy’s furniture industry

The deal between the two players was advised by M&A experts from several professional services firms. Canestrari & Crescentini Associati provided M&A advisory services and conducted the financial and fiscal due diligence for buyer Colombini Group, while OC&C Strategy Consultants conducted the commercial due diligence and Ethica Group provided debt advisory support. 

Meanwhile, at the other side of the deal table, fellow family-owned company Bontempi Casa received M&A support from CF&S. Legal expertise was delivered by BNM and Fieldfisher (buy-side) and Studio Legale Sabatini (sell-side).

“Adding Bontempi Casa’s products to our portfolio will enable us to further strengthen our presence in the Italian and international market and better respond to the growing demands of the furniture market,” said Emanuel Colombini, the President of San Marino based Colombini Group. 

According to data sourced from Statista, the global furniture market is currently worth around $528 billion. A growing middle class in developing economies, and a changing consumer appetite towards more sustainable products in developed economies, are among the key drivers that are touted to lift the industry’s value to over $650 billion by 2027.

Italy plays a major role in the furniture industry, being the fourth largest furniture manufacturer in the world and one of the leading exporters. Italian furniture is particularly loved by consumers for its design, high quality and product aesthetics, according to a recent analysis by Mordor Intelligence.

For Bontempi Casa, the joining of forces will allow the company to “achieve important synergies, boost growth opportunities while maintaining the autonomy of the company,” said company leaders Michele Bontempi and Massimiliano Bontempi.

As part of the integration, Colombini Group will enlarge its board of directors from three to five members, with the two new seats being handed to representatives from Bontempi Casa.