The industrial relaunch operation of Conbipel, a historic clothing chain based in Piedmont, in Cocconato d’Asti, has been defined, which will make it possible to safeguard 1,200 workers through the operation of all 167 points of sale in Italy. The news was given by the Ministry of Economic Development.
3.8 million from the Save Business Fund
“This concludes a path that leads the company to become a Newco financed with a total of 7.8 million euros, of which 3.8 million by the Fondo Salva Imprese del Mise, managed by Invitalia, and 4 million by Eapparels Ltd which makes part of a group of companies headed by Grow Capital Global Holdings. The participation of the Fund in the investment will therefore take place with a minority stake of 49% in support of the private partner ”, writes the Mise. The company, in extraordinary administration since January 28, 2021, in May 2022 was taken over by Eapparelis, a private equity firm created in 2019 by brothers Ajay and Arvind Vij, based in London, owned by the Singapore fashion group Grow capital global.
Giorgetti: “Relaunch of a historic brand”
The relaunch operation was made possible as the intervention is aimed at guaranteeing employment levels and the continuation of the activity of a company, founded in 1958, which has been recognized by the ministry as a brand of historical interest in the sector of textile. “With this investment in Conbipel, important foundations are laid for the relaunch of another historic brand in the Italian clothing sector which, in addition to being able to count on a well-established network of shops throughout the country and specialized skills among workers, will be able to find new opportunities to enhance production also on foreign markets », Minister Giancarlo Giorgetti declares. “The tools available to the Mise – he adds – make it possible to identify the most suitable solutions for companies that are facing temporary financial difficulties”