(Alliance News) - Illa Spa announced that it has signed an agreement to take over Aeternum Srl from Bialetti Industrie Spa, for EUR3.8 million.

Aeternum generated net revenues of EUR11.7 million and Ebitda of EUR2.1 million in 2022.

"We are very pleased," said Pierpaolo Marziali, Illa's CEO, "to be able to announce that the acquisition of Aeternum, which was fundamental for the completion of our company's relaunch path, has finally come to a conclusion today. We are convinced that we have acquired a brand of great prestige, which we consider a real new 'champion' that we can deploy in our team to reaffirm ourselves in the market."

"In the period between the preliminary and the closing of the transaction, we worked intensively and in close cooperation with the management of Aeternum to finalize the operationalization of the process. I would like to thank Negma for the consistent and continuous financial support with which it was possible to finalize this acquisition, as well as that of the Giannini brand, allowing our company to achieve two important milestones that will allow it to definitively emerge from the difficult post-Ikea period, as well as to embark on a development plan driven by its own brands."

Illa's stock is up 8.9 percent at EUR0.0610 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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