ITALY: Mariella Burani Buys Two GFT Companies For $3.2 Million
Mariella Burani Fashion Group SpA has bought retail companies Revedi SpA and Revedi SA from Holding di Partecipazioni Industriali SpA's GFT Net SpA for EUR3.7 million ($3.2m). Revedi SpA runs an Italian chain of 14 luxury clothing and accessories stores, while Revedi SA runs four similar stores in Switzerland. The combined 2001 full-year pre-tax profit for the two companies was EUR1.3 million on revenue of EUR29.3 million.