06 nov 2024
Intermediate Capital Group, alongside several private equity funds, is preparing a bid for Demenego, a prominent optical retail chain with a strong presence in the Triveneto region.
Demenego, currently owned by Vam Investments, is undergoing an exploratory sale process expected to intensify by the end of September.
The acquisition could potentially merge Demenego with Vision Group, enhancing market consolidation.
Founded in 1960, Demenego has seen significant growth under CEO Alessandro Donadelli, expanding its network and revenue.
The company has also renewed agreements with fashion brands, strengthening its market position.
Acquisition Interest in Demenego
Intermediate Capital Group (ICG), which controls Vision Group, is preparing a bid for Demenego, a well-established optical retail chain with a significant presence in the Triveneto region. This move comes as Demenego, owned by Vam Investments, is in the midst of an exploratory sale process that is expected to gain momentum by the end of September.Potential Market Consolidation
ICG, having recently financed the management buyout of Vision Group, is seen as a frontrunner in acquiring Demenego. This acquisition could lead to a consolidation in the eyewear market by merging Demenego with Vision Group, known for its VisionOttica and VistaSì brands. French private equity firm Montefiore Investment is also reportedly interested, with financial advisor Carlo Dawan involved in the process.Demenego's Growth and Strategic Moves
Founded in 1960 in Calalzo di Cadore, Demenego has grown significantly under the leadership of CEO Alessandro Donadelli, who has extensive experience in the eyewear sector, including 15 years at Luxottica. Under his guidance, Demenego's revenue has doubled to approximately 40 million euros, and its retail network is set to expand from 15 to 40 stores in Northern Italy by the end of 2024.Strategic Partnerships
Demenego has also strengthened its market position through strategic partnerships, recently renewing its agreement with Laura Biagiotti for the production and distribution of branded eyewear until 2027.Vam Investments' Role
Vam Investments, which acquired Demenego in 2020 from the founding De Menego family, operates as a club deal, gathering large family offices for each investment. The firm is led by entrepreneurs Marco Piana and Francesco Trapani.Further Insights
- The potential merger between Demenego and Vision Group could reshape the competitive landscape of the Italian eyewear market.
- The involvement of international investment firms highlights the attractiveness of the Italian optical retail sector.
Potential Opportunities
- Enhanced market presence and brand recognition through strategic mergers and acquisitions.
- Expansion of retail networks and product offerings in the eyewear industry.
- Strengthening partnerships with fashion brands to diversify product lines.