Italy“s Vetrerie Riunite group has been bought by private equity fund Opera Italia. Opera has taken 52% of the group, DGPA Capital 24%, and Finvetro the remaining 24%.
The amount paid has not been o…
Italy“s Vetrerie Riunite group has been bought by private equity fund Opera Italia. Opera has taken 52% of the group, DGPA Capital 24%, and Finvetro the remaining 24%. The amount paid has not been officially released, but the enterprise value (the value of equity and the net financial position) is said to be just over EUR 100 million. Founded in 1905, Vetrerie Riunite manufactures and markets glass products including washing machine doors, cosmetic bottles, tableware and auto headlight lenses. This activity has enabled the group to close 2007 with a consolidated turnover of EUR 90 million, up 9% compared to 2006. The forecast for 2008 is for turnover in excess of EUR 100 million for the first time. Daniele De Rosa, previously with Saati Spa and Zoppas, has been brought in to manage the company.