MILAN — After months of speculation, the new ownership of the Missoni company has taken shape — and it’s a surprise, with equity firm FSI set to become the controlling shareholder with a 73 percent stake as the Missoni family exits its equity position.
FSI already owns 41.2 percent of the company, which it picked up in 2018, but was believed to be looking at an exit as the brand was said to be in exclusive talks with Authentic Brands Group, the New York-based owner of Reebok, Champion and other high-profile brands.
The latest twist brings in a new player. Katjes International signed an agreement, through its wholly owned subsidiary Katjes Quiet Luxury, to acquire approximately 27 percent of the Italian luxury brand. Katjes International also has a call option on FSI’s shares with the potential to become the majority shareholder.
The closing of the transaction is subject to approval by the relevant antitrust authorities and is expected in the second quarter.
Livio Proli, a Giorgio Armani company veteran who joined Missoni in 2020, will stay on as chief executive officer, and Barnaba Ravanne, cofounder of FSI, as president.
Angela Missoni, daughter of the late founders Tai and Rosita, was previously the president of the company, while her brother Luca was in charge of special events and exhibitions. The family will continue to lead the Fondazione Ottavio e Rosita Missoni.
Katjes International is listed on the Frankfurt Stock Exchange via its corporate bonds, and, in a statement issued to the Bourse on Tuesday, said the corporate bond has been increased by 15 million euros to a total of 200 million euros.
Katjes Quiet Luxury last year took a controlling stake in high-end sports brand Bogner, founded in the 1930s by Nordic skiing world champion Willy Bogner, together with his wife Maria Bogner.
Katjes International acquires companies with strong and established consumer goods brands in Europe and is an investor in Italy’s food brands Paluani and Sperlari and fragrance firm Antica Erboristeria and last month acquired Graze snacks from Unilever.
Bastian Fassin and Tobias Bachmüller are experts in the confectionery industry and are the managing shareholders of Katjes International and its sister company Katjes Deutschland.
The news comes after creative director Alberto Caliri showed Missoni’s fall collection in Milan last week.
The designer’s spring and fall collection have registered a 30 percent increase in sales. Missoni revenues total around 130 million euros, with earnings before interest, taxes, deprecation and amortization expected to reach 20 million euros.
