A new acquisition expands H.I.G. Capital-owned Cadicagroup’s capabilities in the trims arena. The Italian company acquired Varcotex, a trims manufacturer for the luxury sector.
Based in Capri, Italy since 1982, Varcotex specializes in the conception, design and production of labeling, hangtags, packaging, and brand protection. Its specialty is woven, printed and leather labels and tags.
“We are thrilled to join Cadicagroup and excited to bring our production and technical skills to one of the largest groups in the fashion accessories sector for the luxury segment,” said Paolo Munari, Varcotex CEO. “As a result of the integration, Cadicagroup has the potential to become the only group in Europe with the ability to provide research excellence and made-in-Italy production services to its customers, thanks to its investment in research, design and product innovation.”
The company reported that Munari will “reinvest” in Cadicagroup and will remain involved in the management of the group’s production activity.
The acquisition is an important step in Cadicagroup’s growth strategy. Varcotex marks its fourth acquisition in the past 36 months, making it one of the leading operators in high-end fashion accessories in Europe.
“This acquisition gives even greater impetus to the vision of providing the Italian and international fashion industry with a reliable and competitive partner in terms of cost, responsiveness and services offered,” said Massimo Stefanello, Cadicagroup CEO. “We look forward to a successful partnership with Varcotex based on our shared values with regards to product innovation and the safeguarding of environmental resources.”
The company’s acquisition plan has included heritage and technology-driven companies. Last summer, Cadicagroup purchased Etichetta 2000, a woven and printed labels company that specializes in the distribution of anti-counterfeiting products and services including labeling with QR codes, customized holographic strips and tracking technologies like RFID and NFC.