Marquee Brands, a brand acquisition firm set up by Neuberger Berman Private Equity, has agreed to buy the Italian luxury footwear brand Bruno Magli. No financial terms were disclosed for the deal that is expected to be completed in early 2015.
NEW YORK–(BUSINESS WIRE)–Marquee Brands LLC announced today that it has reached a definitive agreement to acquire the Bruno Magli® brand and related intellectual property assets from Bruno Magli SpA. The transaction is expected to close in early 2015.
Founded in 1936, Bruno Magli is among the original Italian luxury brands. Combining a rich heritage and classic style, the brand has produced fashion footwear for a global consumer base including celebrities and royals throughout its nearly eighty years.
“Marquee Brands was created to acquire and grow high quality brands through product and geographic expansion. Bruno Magli is one of the most revered Italian legacy brands. We have already begun to secure partnerships in new categories with true best-in-class partners for growth at better retailers across the globe,” said Michael DeVirgilio, President of Marquee Brands.
“Rarely do brands with the stature of Bruno Magli become available with an untapped opportunity to market, expand and grow into a lifestyle brand. We have a thorough brand strategy already created that will allow it to naturally develop into new categories,” stated Cory M. Baker, Chief Operating Officer of Marquee Brands. “Bruno Magli is the epitome of luxury and we are excited for this to be our first jewel in the crown of a growing portfolio.”
Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-controlled investment managers, Marquee Brands will continue to build a portfolio of high-quality brands.
“Similar to Bruno Magli, we will seek to acquire brands which we can grow through our global footprint across 17 countries, relationships with best-in class partners and the management expertise of Michael and Cory. We look forward to building long-term value for Bruno Magli and other leading brands as we move forward,” said Zachary Sigel, Principal of Neuberger Berman and Director of Marquee Brands, who is responsible for brand acquisitions for the Company.
While Bruno Magli’s corporate office will be based out of the New York headquarters of Marquee Brands, keeping in line with Marquee’s investment thesis, the core footwear and leather products will continue to be designed in Bologna and made in Italy in order to maintain the integrity and artisan workmanship.
Marquee Brands was advised by Cleary Gottlieb’s Milan office and Studio Gnudi in Bologna, Italy.
About Marquee Brands
Marquee Brands is a brand acquisition, licensing and development company. Sponsored by Neuberger Berman Private Equity, a business of Neuberger Berman, one of the world’s leading employee-controlled investment managers, Marquee Brands targets high quality brands with strong consumer awareness and long-term growth potential. Marquee Brands seeks to identify brands in various consumer product segments with the goal of expanding their reach across retail channel, geography and product category while preserving the brand heritage and enhancing the ultimate consumer experience.
Through its global team of professionals and partners, Marquee Brands monitors trends and markets in order to grow and manage brands in partnership with retailers, licensees and manufacturers through engaging, impactful marketing and strategic planning. www.marqueebrands.com
About Neuberger Berman
Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. With offices in 17 countries, Neuberger Berman’s team is more than 2,000 professionals and the company was named by Pensions & Investments as a 2013 and 2014 Best Place to Work in Money Management. Tenured, stable and long-term in focus, the firm fosters an investment culture of fundamental research and independent thinking. It manages $247 billion in client assets as of September 30, 2014. For more information, please visit our website at www.nb.com