Marquee Brands, a brand acquisition, licensing and development company sponsored by Neuberger Berman Private Equity, announced last week it has reached a definitive agreement to purchase luxury Italian shoe label, Bruno Magli. The transaction is expected to close in early 2015.
Bruno Magli’s corporate offices will be based out of the New York headquarters of Marquee Brands, while its footwear and leather products will continue to be designed in Bologna and made in Italy, where the company has produced for nearly 80 years.
According to Marquee Brands president Michael DeVirgilio, the company has already begun to secure partnerships for the Bruno Magli label in new categories and retailers across the globe.
Cory M. Baker, Marquee Brands chief operating officer, said, “Rarely do brands with the stature of Bruno Magli become available with an untapped opportunity to market, expand and grow into a lifestyle brand. We have a thorough brand strategy already created that will allow it to naturally develop into new categories.”
Bruno Magli is the first project for the acquisition company, which plans to continue to build a portfolio of high-quality brands.
Principal of Neuberger Berman and director of Marquee Brands Zachary Sigel said the company plans to seek out brands that it can grow through its global footprint across 17 countries and relationships with “best-in class partners.” He added, “We look forward to building long-term value for Bruno Magli and other leading brands as we move forward.”