Private equity firm Investindustrial is in exclusive talks to buy Italian baby products brand Chicco for about 1 billion euros ($1.1 billion), a source close to the matter said confirming press reports.
The source said Investindustrial was conducting a due diligence on the company and that a deal could be agreed as soon as next month.
Chicco’s owner Artsana, which is being advised by Lazard, said it had no comment at present.
Both Investindustrial and Lazard declined to comment.
($1 = 0.8923 euros) (Reporting by Massimo Gaia, editing by Emilio Parodi)