While the market waits to know who will win its majority package, Conceria Pasubio surprises everyone with an unexpected move. In fact, the Venetian company has announced the acquisition of the German Company Hewa Leder, a company specialised in the leather production for the premium luxury segment in the automotive and yachting sector, exclusive supplier of Rolls Royce, the ultra-luxury and extra-sports series of BMW and Audi and of leading nautical companies, which operates with two factories in Germany and employs 150 people.
Based in Arzignano (Vicenza), Pasubio is led by brothers Alberto and Luca Pretto and chaired by Gianandrea De Bernardis. The Vicenza group has six plants, five of which are in Italy and one in Serbia, employing 518 people. More than 80% of sales are in the foreign market. Its leathers go to coat the interiors of the most important luxury car brands.
Luca Pretto, CEO of Conceria Pasubio, commented: “We are very pleased with this operation which gives us the opportunity to further strengthen our leadership in the most prestigious segment of the car leather market, adding Rolls Royce to our customers’ palmares, and to consolidate our presence within the BMW Group of which Rolls Royce is part”.
Marcus Adelmann, son of Hewa Founder Leder, added: “The entry of the Pasubio Group broadens Hewa Leder’s strategic reach. In addition to bringing the experience and expertise developed in the years of its history, Hewa Leder will be able to count on the technological, commercial and management support of Pasubio to become an integral part of it and strengthen its absolute leadership in the European reference market”.
As we said at the beginning, the same Conceria Pasubio, already controlled by the CVC Capital Partners fund, is the subject of attention. According to press sources, the multinational TFL, controlled by the private equity fund Black Diamond, the Sino-German industrial group AIGC and the private equity fund French PAI Partners, are competing for the majority package. The valuation seems to be approximately 700 million Euro.