Italian investment holdings company Italmobiliare last month purchased prized cycling and motorcycling footwear company SiDI Sport.
The purchase of the 62-year-old Italian company is the latest in Italmobilaire’s strategy to invest in companies with “major innovative Made in Italy brands”.
“SiDI Sport is an Italian success story as its founder, Dino Signori, has led the company to become a globally-recognised leader in the production of cycling and motorcycling shoes, with a turnover of almost €38 million (A$55.5 million) in 2021,” according to a statement by Italmobilaire.
“Based on the agreements that have been reached, 100% of the capital of SiDI Sport will be taken over by Italmobiliare for an investment of €66 million (A$96.3 million).”
“With this new transaction, Italmobiliare is expanding its presence in the sports and outdoor market, in a sector that features high growth and further development potential,” Italmobiliare CEO Carlo Pesenti said.
“The decision to invest in SiDI is based on the value of a winning brand that is much appreciated, the company’s production efficiency and its potential for future growth. For Italmobiliare, this new acquisition is a further step in our strategy of enhancing and strengthening successful Italian brands that are worth accompanying, also in terms of their global development”.
SiDI Sport founder and chairman Dino Signori said the purchase would ensure “the company can grow even stronger and more competitive”.
“Italmobiliare will be able to give continuity to the values and ideas that I have always pursued, consolidating and strengthening SiDI’s traditions and products.”
Sidi is distributed in Australia by Cassons.