ITALY - Bridgepoint acquires Italian perfumery group Limoni

Perfumery chain Limoni, the Italian market leader with a network of 400 stores and a consolidated turnover of € 304 million (13.6% up on 2004), has been acquired by Bridgepoint through a management buy-out involving its founder Piofrancesco Borghetti. The transaction has seen Mr Borghetti increase his stake in the company from 20.3% to 30% and Bridgepoint acquire 70% from former shareholders De Agostini Group, Gianfilippo Cuneo, Interbanca, Banca Intesa and Isabella Seragnoli. The consideration was not disclosed.