Middleton manufacturer expands into Italy with £6.1 million acquisition Date published: 13 January 2021
Vita CEO Ian Robb
The UK’s leading providers of polyurethane foam, based in Middleton, has expanded into Italy after acquiring a firm for £6.1m.
The Vita Group, which employs 2,700 people across Europe and is headquartered in Middleton, has acquired Italian foam manufacturer I.M.P.E. S.p.A., a wholly owned subsidiary of Natuzzi based in Naples.
Vita expects the £6.1m deal to complete in the first quarter of 2021. It will enable the business to gain an important foothold in Italy, which is the second largest furniture producing country in Europe and one of its largest furniture exporters.
Press release content from Business Wire. The AP news staff was not involved in its creation.
Natuzzi and The Vita Group Enter Into Agreement for the Purchase of I.M.P.E. S.p.A., an Italian Foam Manufacturer
January 8, 2021 GMT
SANTERAMO IN COLLE, Bari, Italy (BUSINESS WIRE) Jan 8, 2021
Today, Natuzzi S.p.A. (NYSE: NTZ) (“Natuzzi”) and The Vita Group (or “Vita”) announced that they have entered into an agreement whereby Vita Italy S.r.l., a wholly owned subsidiary of The Vita Group, will acquire I.M.P.E. S.p.A., a wholly owned subsidiary of Natuzzi based in Naples, Italy.