Alessandro Benetton's 21 Invest group has reached a binding agreement to acquire a majority stake in Zanzar, a Grottaglie-based group specialising in the production of mosquito nets. The company, founded in 1985, has reached a turnover of 80 million euros, of which 35 million on foreign markets, expanding its products (rolling shutters, boxes, awnings, pergolas, blinds) and with the acquisitions of Croci Italia, IRS, Suncover Italia, Stampaggi Industriali and Verelux.
The company has 400 employees and 11 production sites in Italy and Europe. The objective of 21 Invest is to support the development process both on an organic basis and with the full integration of the activities acquired in recent years.
Some potential strategic combinations are already being analysed. The current management team led by chairman and founder Angelo l'Angellotti will be confirmed. Mediobanca acted as advisor to the sellers in the transaction.
With Zanzar 21 Invest confirms its focus on Southern Italy after the operations in Puglia on Carton Pack (food packaging) and in Sicily on Sifi (ophthalmic pharmaceuticals).
