If you’re into off-road riding or cycling, you should be familiar with the Italian brand SIDI. For those who aren’t, SIDI is one of the leading manufacturers of quality cycling shoes and motorcycle riding boots and takes pride in its products being handcrafted with the hands of Italian craftsmen and women.
Just recently, investment firm, Italmobiliare, has bought a 100% stake in SIDI for EUR 66 million. That’s roughly equivalent to PHP 3.8 billion in our money.
Italmobiliare is an Italian investment firm that has a diversified portfolio currently valued (net) at more than EUR 2 billion. Since 2017, Italmobiliare has consolidated its business strategy of investing in companies that are still “Made in Italy”, and has been successful in growing these companies with its management and development know-how.
“With this new transaction, Italmobiliare is expanding its presence in the sports and outdoor market, in a sector that features high growth and further development potential,” says Italmobiliare CEO, Carlo Pesenti.
Davide Rossetti has been appointed CEO of SIDI, while Davide Cassani - former pro cyclist and former technical commissioner of the Italian national cycling team - joined the company’s board.
