ITALY: Children's Footwear Brand Primigi Acquired By Imac
The IGI group, best known for its Primigi children's footwear brand, has been bought by Ascoli Piceno-based shoe company Imac. Although full details of the takeover have not been revealed, it is thought that Primigi was valued at just under half this year's expected turnover. Acquired by UBS Capital in 1995, the company recorded revenues of around L90 billion in 2000, and this is expected to generate around L100 billion in 2001.
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