China's Fosun invests in Italian menswear maker Caruso

The buyer completed the deal through one of the private equity vehicles under its management under the brand Fosun Capital Group (FCG). FCG has more than RMB 10bn under management across six vehicles. 

The investor bought a 35% stake in the firm. The deal value is understood to stand at less than €10m.

Fosun intends to grow the company's presence in China.

The investor is currently involved in a bid for Club Med in France, along with Axa Private Equity. The duo made an offer of around €540m for the company. Despite the regulator's approval, an appeal by investment fund Charity & Investment Merger Arbitrage Fund has delayed the deal.

Company
Founded in 1958 and based in Parma, Caruso manufactures high-end menswear. The company has showrooms in Milan and New York, and employs more than 600 staff. Caruso reported a €64.4m turnover in 2012.

People
Guo Guangchang is chairman of Fosun.

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• Topics
• Southern Europe
• Consumer
• Expansion
• Italy