SFERRA Fine Linens, a leading branded luxury linens and home lifestyle company whose heritage dates back to 1891 in Italy and owned by Highlander Partners, today announced the acquisition of Pratesi. Pratesi is an ultra-premium Italian-luxury linens brand known for elaborate floral designs, innovation, superior quality and a globally recognized brand for well over a century, dating back to its founding in 1906.
SFERRA intends to initially reintroduce the Pratesi brand into the marketplace through international channels where the brand has traditionally maintained a major presence, and through a newly developed Pratesi website in order to quickly reestablish its connection with its distinct customer base. SFERRA's product portfolio today includes more than ten different categories including; bed, bath, table, and decorative accessories. The SFERRA brand is known for its fine Italian craftmanship and for sourcing premium natural fibers from the foremost global resources to spin and weave its luxury goods. Historically, Pratesi has followed those same principles and the combined brands will leverage those practices to expand both brands going forward.
"We are thrilled with the unique opportunity to combine the two premier Italian luxury brands together to create the leading luxury linens and home lifestyle company. Pratesi will add a distinct aesthetic to our product offering, expand our reach internationally and broaden our customer base," said Michelle Klein, President and CEO of SFERRA, who will continue to lead both brands.
Jeff L. Hull, President and CEO of Highlander, added, "We are very excited to be the steward of two iconic Italian luxury brands in the bedding and home category. We believe a SFERRA and Pratesi combination has the potential to become the preeminent luxury linens provider globally. We are looking forward to continuing to implement a selective "buy-and-build" investment approach and finding complementary M&A opportunities for this business in the luxury goods category."
Mark Blanchat, a Highlander Partner and Chairman of SFERRA, commented, "The Pratesi acquisition reiterates Highlander's focus on our Italian luxury branded platform strategy, representing an opportunity for us to acquire a rare established luxury brand with a loyal consumer following due to its highly differentiated product offerings and superior quality. We believe the designs, styles and feel of SFERRA and Pratesi are entirely unique and attract two unique customer bases. There are tremendous growth opportunities in reintroducing the Pratesi brand to the market, and the addition will create positive momentum for both Pratesi and SFERRA, especially internationally."
About SFERRA
SFERRA is an Italian luxury lifestyle brand established in 1891 by founder Gennaro Sferra, who created the brand in dedication to impeccable artistry and tailoring. To this day, SFERRA has evolved to encompass every luxury for the home, utilizing time-honored craftsmanship with ever innovative design. SFERRA's most acclaimed collections, amongst others, include Milos, the first original 1,000 thread count bedding, the treasured SFERRA Giza 45 for the linen's unparalleled heirloom durability and exquisite comfort, Festival European table linen in 101 exuberant colors, bath-time indulgences which include resort-style Aura, simply classic Bello, and the contemporary Canedo. Most recently, the brand has expanded its categories to include mattresses, accessories for the table, and home and décor gifts. SFERRA is found in major department stores including Bergdorf Goodman, Bloomingdale's, and Neiman Marcus, more than 700 luxury specialty home stores throughout North America, some of the world's most prestigious boutique hotels and resorts, and more recently in the world-renowned Harrods department store in London. For more information on SFERRA, please visit www.sferra.com.
About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with over $2.0 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience, including basic manufacturing, food, chemicals, building materials, consumer products, and others. Highlander Partners uses a "buy and build" investment approach, creating value by helping companies grow organically and through acquisitions. For more information, visitwww.highlander-partners.com.
