Marcolin sells 78.4% stake to equity firm

Nearly 80 per cent of Italian eyewear manufacturer Marcolin will be acquired by a private equity firm at a cost of over €207m.

PAI Partners has agreed to purchase 78.39 per cent of the company's share capital from all parties in Marcolin's shareholder agreement, in which the Marcolin family is the main shareholder alongside the Della Valle bothers and Antonio Abete.

PAI Partners said the consumer sector was one of its core target areas for investment. The firm has invested in Italian fashion retailers as well as Yoplait and United Biscuits in the UK. It said Marcolin had sales of €225.1m and EBITDA of €34.2m in 2011, up 9 per cent and 14 per cent respectively on 2010.