Zegna Baruffa and Filatura di Chiavazza to merge

摘要

Italian yarn companies Zegna Baruffa Lane Borgosesia S.p.A. and Filatura di Chiavazza S.p.A. have reached a preliminary agreement that according to a statement from Zegna Baruffa "will act as the precursor to the complete integration of the two companies." Zegna Baruffa said that "the creation of a single company will lead to important production and commercial synergies, as well an increase in the company's share capital and production potential." Maria Elisabetta and Alfredo Botto Poala, major shareholders in Zegna Baruffa, and the Borsetti family, owners of Filatura di Chiavazza and already present for many years in the Valle Mosso spinning mill, have decided to combine their powers in a move that Zegna Baruffa said will result in "a company that is unique on the international wool spinning panorama in terms of its tradition, quality, level of service, and extensiveness of range."