A few days ago the Rino Mastrotto Group, world leader in the production and sale of high quality leather for the fashion, furniture and automotive sectors, announced the acquisition of Carroll Leather, a division of Carroll Companies Inc. active in the marketing of leather goods for the North American furniture sector.
Carroll Leather was founded in 1970 by the brothers Sterling and Royce Carroll. Starting from a wallet sales business, Carroll Leather has grown rapidly to become one of the leading warehouses in the United States that specialises in the marketing of high-quality leathers for the residential and hospitality design sector. Leveraging a state-of-the-art warehouse based in North Carolina, the main American design and furniture district, Carroll Leather offers over 1,000 leather items, ready for delivery. Carroll Leather employs 25 people and generates approximately $ 30 million in revenues.
In a press release, Matteo Mastrotto, CEO of the Rino Mastrotto Group, said: “This transaction unites two companies with a unique positioning, history and experience. We were looking to expand our business in the United States and we knew that Carroll Leather was the right company to focus on to achieve this. The combination of our high quality leather manufacturing capabilities and Carroll Leather’s experience in marketing and service will create the leading premium leather supplier in the furniture market of the United States”.
Alberto Atrofini, Head of the Furniture Business Unit of the Rino Mastrotto Group, comments: “We built a partnership with Carroll Leather almost ten years ago and have always admired their business model and professionalism. We believe that Carroll Leather perfectly fits with the Rino Mastrotto Group and we are ready to support the growth of the company. Thanks to this acquisition we also plan to bring high-end design and furniture items of our Elmo brand back to the United States and we can’t wait to give our customers the opportunity to buy again Elmo leathers from a warehouse based in the United States”.
Joe Franck, VP at Carroll Leather, said: “We are delighted to join the Rino Mastrotto Group and to have such an important partner to support the company in its next phase of growth”.
Rino Mastrotto Group has grown to become one of the most important companies in its sector and is internationally recognized for the quality of its articles ". It is a subsidiary of NB Renaissance, Neuberger Berman's private equity investment fund dedicated to Italy, and owned by NB Aurora, a permanent capital fund listed on the Milan Stock Exchange.