Sidi Sport, the Italian cycling and motorcycling footwear brand, has been acquired by Italmobiliare.
Sidi Sport, led by its founder, Dino Signori, had sales of almost €38 million in 2021 and EBITDA of around €7 million.
Based on the agreements that have been reached, 100 percent of the capital of Sidi Sport S.r.l. will be taken over by Italmobiliare for an investment of €66 million, in addition to the net cash held by the company on August 31, 2022. Execution of the contract, which is subject to completion of a corporate reorganization that includes the spin-off of certain properties, is expected to take place in the fourth quarter of the year.
“With this new transaction, Italmobiliare is expanding its presence in the sports and outdoor market, in a sector that features high growth and further development potential,” said Carlo Pesenti, Italmobiliare’s CEO. “The decision to invest in Sidi is based on the value of a winning brand that is much appreciated, the company’s production efficiency and its potential for future growth. For Italmobiliare, this new acquisition is a further step in our strategy of enhancing and strengthening successful Italian brands that are worth accompanying, also in terms of their global development.”
“I am proud of this deal which respects my history as an entrepreneur over the last sixty years or more. It will ensure that the company can grow even stronger and more competitive,” said Signori, founder of Sidi Sport and current chairman. “Italmobiliare—and Carlo Pesenti who I have come to know and respect—will be able to give continuity to the values and ideas that I have always pursued, consolidating and strengthening Sidi’s traditions and products. I thank my family and all of our employees for their efforts that have allowed us to achieve such brilliant results.”
