By Andrea Figueras
Prada Group said it agreed to acquire a stake in Rino Mastrotto Group, an Italian company specialized in the production of high-end leather.
Under the deal, the Italian luxury fashion firm is taking a 10% stake in Rino Mastrotto in exchange for two tanneries and a cash investment.
The transaction, the financial details of which weren't disclosed, is expected to close between the end of the second quarter and the beginning of third one.
Rino Mastrotto, owned by Renaissance Partners and the Mastrotto family, partners with luxury brands in fashion, automotive and interior design. It employs over 1,300 people globally.
"Investing in Rino Mastrotto allows our Group to strengthen its control over a highly strategic phase of the production process," Prada's Chairman and Executive Director Patrizio Bertelli said.
The deal is subject to certain customary conditions.
Write to Andrea Figueras at andrea.figueras@wsj.com
(END) Dow Jones Newswires
June 05, 2025 05:29 ET (09:29 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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