Vitale & Co. advised Pianoforte Holding on financing
With more than 1,200 shops in Italy and abroad, Pianoforte Holding promotes Italian style and quality worldwide, as the result of the consolidated experience of the Carlino and Cimmino families in retail distribution.
In the context of the aid programmes for Italian companies affected by the Covid-19 emergency, Pianoforte Holding – a group specialized in the retail sector through the Yamamay and Carpisa brands – has signed an agreement with a pool of lending banks for a loan of 55 million euros, guaranteed by SACE as part of the “Garanzia Italia” programme.
With more than 1,200 shops in Italy and abroad, Pianoforte Holding promotes Italian style and quality worldwide, as the result of the consolidated experience of the Carlino and Cimmino families in retail distribution. In particular, the Group operates both in the lingerie and underwear market and in the handbags and luggage market with the well-known brands YamamaY and Carpisa respectively. The Group is also an important point of reference in the country thanks to more than 2,000 employees in Italy and with a turnover of approximately 315 million in 2019.
The pool of banks was led by Intesa Sanpaolo and composed of UniCredit, Banco BPM, Banca Monte dei Paschi di Siena, BNL and BPER Banca.
The loan is aimed to guarantee the investments of the Group, and to provide the necessary support to the Group’s operating business.
Vitale acted as financial advisor, assisting the Group in the definition of the structure and of the terms of the transaction, and in the negotiations of the agreements with the pool of lending banks.
Deal value: ca. €55m
Vitale & Co. advised Pianoforte Holding on financing