ITALY - Sanpaolo IMI Fondi Chiusi acquires shareholding in Blumen
Fund Centro Impresa, managed by Sanpaolo IMI Fondi Chiusi, has invested EUR 3m in return for a 32% stake in Blumen, a retailer of home and garden appliances. Blumen is based in Piacenza and had returns of EUR 15m last year. The business plan includes growth at national level, via acquisitions of companies from related sectors.
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