Gruppo Florence, the Italian luxury goods manufacturing group, continues its growth strategy following the majority acquisition of shares by British private equity fund Permira in May this year. The group has announced the acquisition of Tuscany-based embroidery specialist ABC Ricami, as well as two renowned Tuscan leather manufacturers, Effebi and ALBA. Additionally, Gruppo Florence is establishing a new leather goods department to strengthen its position in the luxury goods production sector. The financial details of the acquisition have not been disclosed.
Effebi, with over 30 year …
