BEV - Italian Design Brands Completes 11th Acquisition with Purchase of Turri

Italian Design Brands (IDB) has acquired Turri, marking its 11th acquisition since going public. Founded in 1925 in Carugo, Turri specializes in high-end furniture and is managed by Andrea Turri, who will remain as CEO and minority owner. IDB acquired 51% of Turri, which generated €28.1 million in sales in 2022, primarily abroad. The acquisition, funded by €5 million in additional capital and bank loans, aims to help IDB reach €300 million in revenue by year-end.

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Source: https://www.laconceria.it/en/news/italian-design-brands-buys-turri-its-the-11th-acquisition/