Tengram Capital Partners has agreed to buy luxury menswear brand Zanella. No financial terms were disclosed.
NEW YORK, June 16, 2015 (GLOBE NEWSWIRE) — Tengram Capital Partners (“Tengram”) announced today that it has signed a definitive agreement to acquire the Zanella brand and business (“Zanella”), a leading luxury menswear brand, best known for its offering of handcrafted, sartorial trousers made 100% in Italy. Zanella predominantly sells its classic dress pants through prestigious specialty stores and high-end department stores across the U.S., Canada and Europe, including key retail customers such as Nordstrom, Neiman Marcus and Mitchell’s. The Company will continue to utilize its existing facility in Vicenza, Italy to manufacture products that are expertly crafted by the artisans that have historically produced Zanella trousers. Tengram is a Connecticut-based private equity firm that focuses exclusively on middle-market consumer and retail companies that own exceptional, highly recognizable brands. The transaction is subject to the satisfaction of customary closing conditions.
William Sweedler, Co-Founder and Managing Partner of Tengram, expressed his excitement about the new acquisition and the growth prospects for the business. “Zanella is an iconic Italian luxury brand that has achieved strong recognition in the U.S. and continues to be one of the most asked for brands in all of menswear across its key retailers. We are thrilled to have the opportunity to restructure this business, as well as drive the brand’s expansion through existing wholesale partners in the U.S. and abroad.”
In addition to his role as Chief Executive Officer of Luciano Barbera, Todd Barrato will also be responsible for stewarding Tengram’s investment in Zanella. Over the past few months, he has recruited an experienced management team of industry executives, several of whom will also dedicate a portion of their time to the Zanella business. Previously, Mr. Barrato served as Chief Executive Officer of North American operations for the Italian luxury men’s brand Brioni, where he was responsible for growing wholesale sales and increasing market share in the retail network.
Commenting on his expanded role, Mr. Barrato added, “Zanella has a rich heritage and I am honored to join as the new Chief Executive Officer at such a pivotal moment. The brand has always been synonymous with high quality men’s sartorial trousers. I look forward to honoring that heritage, while also defining a more contemporary direction for the business. Tengram Capital has extensive industry experience and we will work together to develop both Zanella and Luciano Barbera into leading Italian luxury brands.”
Brian Thorne, Vice President at Tengram, stated, “We are excited to work closely with the Zanella team to help revitalize this well-known luxury brand. Having evaluated a number of Italian opportunities since our investment in Luciano Barbera, we found Zanella to be one of the few brands with the ability to quickly scale in the U.S. market. We expect this growth to be driven primarily by rejuvenation of the Company’s core dress pant business, as well as expansion into select complimentary classifications such as casual pants.”
Tengram invests in and partners with companies across the consumer sector. The firm invests in strong brands and management teams and acts as a catalyst to drive the growth of the companies in which it invests. Tengram’s principals have significant consumer expertise and focus on certain segments, including apparel, accessories, sporting goods, home furnishings and health and beauty.
Zanella is a leading luxury menswear brand, best known for its offering of handcrafted, sartorial trousers made 100% in Italy. The Company predominantly sells its classic dress pants through prestigious specialty stores and high-end department stores across the U.S., Canada and Europe, including key retail customers such as Nordstrom, Neiman Marcus and Mitchell’s. Zanella will continue to utilize its existing facility in Vicenza, Italy to manufacture products, while operating out of its U.S. headquarters and showroom on Fifth Avenue in New York. www.zanella.com
ABOUT TENGRAM CAPITAL PARTNERS:
Tengram Capital Partners is a private equity firm that focuses exclusively on leading middle-market consumer and retail companies that own strong recognizable brands. The team has a diverse background of consumer investing and operating expertise that assists and guides company management to unlock the true potential of their brand. Tengram invests in both traditional growth and restructuring/turnaround situations in either the public or private sectors. Previous and current investments for Tengram and its predecessor investment entity, Windsong Brands, LLC, include This Works, Luciano Barbera, Tommie Copper, Active Ride Shop, DevaCurl, Laura Geller Beauty, NEST Fragrances, Sequential Brands Group, Robert Graham, Joe Boxer, Joe’s Jeans, Field & Stream, and Design Within Reach. http://www.tengramcapital.com