Back in March, the British luxury goods group Burberry Group Plc announced that it wanted to buy a clothing factory in Turin from its long-standing supplier Pattern SpA, which has long been producing down and quilted goods for the fashion house.
On Monday, Pattern reported the completion of the transaction. According to press reports, the local subsidiary Burberry Italy Srl ultimately paid 22.4 million euros for the operating unit due to a revaluation. A purchase price of 21 million euros was originally agreed.
According to its own information, Pattern wants to use the income to strengthen the growth of the remaining business areas and to build a new headquarters in Turin. With the purchase, Burberry brought additional expertise into the company. The company had already explained when the takeover was announced in March that the fashion retailer would gain the ability to develop technical outerwear items.