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Ermenegildo Zegna Group going public – WWD

MILAN – The Ermenegildo Zegna Group and Investindustrial Acquisition Corp., a special-purpose acquisition company funded by the investment subsidiaries of Investindustrial VII LP, said Monday that they have entered into a final business agreement projecting ant to make Zegna a public company listed on New York Stock exchange later this year.

CEO Gildo Zegna said: “Over 111 years ago, my grandfather and namesake founded Zegna with the belief that caring for both the natural and human environment is fundamental to creating products. best textile products and a successful brand. “Since then, we have proudly followed in his footsteps to become one of the true luxury houses of Italy. Today’s announcement highlights the success of the group’s ongoing strategy of focusing on brand values ​​while continuing to build on our heritage, sustainable ethos and unique craftsmanship that has made Our name has become synonymous with quality and luxury worldwide. The Zegna family will continue to lead the company after the transaction is complete, and we will continue to invest in creativity, innovation, talent and technology to maintain Zegna’s leadership position in the luxury market. Global. “

After the close of the transaction, which is expected to take place in the fourth quarter of this year, the Zegna family will continue to control the company with a stake of about 62%. Based on transaction value, the incorporated entity will have an initial projected enterprise value of $3.2 billion, with a projected market capitalization of $2.5 billion.

The transaction is expected to bring in about $880 million in total proceeds.

https://wwd.com/menswear-news/mens-designer-luxury/ermenegildo-zegna-group-publicly-list-nyse-1234884574/ | Ermenegildo Zegna Group going public – WWD

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