WISE SGR SELLS STAKE IN BOGLIOLI TO PHI INDUSTRIAL ACQUISITIONS

Private equity investment fund Wise SGR has reported that it has accepted a binding offer for its stake in Italian clothing company Boglioli, made by the international fund PHI Industrial Acquisitions. Andrea Perrone will remain as the brand’s chief executive officer. Further details of the deal were not disclosed.

Thanks to the new contribution to the brand’s financial capital, Boglioli is now preparing to quickly present a plan for a voluntary arrangement with creditors, with the goal of starting out anew with a solid growth plan focusing on international markets. The brand’s first act in this plan is to return to Pitti Uomo in Florence this June to show its spring/summer 2018 collection.

“We have put a great deal of effort in the last few months to guarantee that the company could continue operating as a going concern,” said Perrone. “I would like to thank Wise for the faith placed in me, the new investors, everyone who chose to believe in us and above all, Boglioli, which has successfully continued, as indeed it will in the future, to fight for its success.”