PEDINI S.P.A. OPENS ITS CAPITAL TO THE NEW SHAREHOLDER TO FAVOR GROWTH
PEDINI S.p.A. is pleased to announce that DEMIRAY ITALY HOLDINGS S.r.l., a subsidiary of the Chinese HUA WEI FURNITURE Group led by successful Chinese entrepreneur Mr. Wang Hongkun (leading company in the production and marketing of full home custom furnishings with strong relationship with leading Chinese and international real estate developers), entered on November 6th, 2020, in the nominal capital with a 60% share, after months of negotiations that allowed the Parties to curate and to define all the details.
The strategic cooperation born through the M&A transaction aims to consolidate, develop and enhance the presence of PEDINI S.p.A in the Asian and North American markets through the synergies to be implemented with the new Shareholder, as well as improving the PEDINI brand awareness and expand the commercial network worldwide.
Following the acquisition, the HUA WEI FURNITURE Group will immediately expand its range of high-end and luxury furniture products, enriching it with those designed and manufactured by PEDINI S.p.A. with the higher aesthetic and quality standards that have always distinguished the “Made in Italy” manufacturing tradition.
The strategic alliance between PEDINI S.p.A. and HUA WEI FURNITURE Group has exclusively industrial interest with long-term vision, and is not comparable at all to transaction with financial purpose focused on short-term returns.
To confirm this and to further emphasize the sign of continuity to the market, Mr. Daniele Radi Temelini remains in office as CEO and still holds 40% of the capital as the significant shareholder through the holding RADIFIN S.r.l..
The values that have forged the company since its foundation will also remain unchanged, namely the extreme propensity, without compromise, to attention to detail in all its forms, including innovative stylistic research and development, the choice of the most refined raw materials, the extreme quality in manufacturing processes, the accurate pre & post-sales service and the enhancement of “Made in Italy” know-how. Such ideals are strengthened and amplified by the International Group to which PEDINI S.p.A. is proud to belong.
The new course has the ambition, shared among the shareholders, to triple the current annual revenue over the next three years, bringing, with renewed impetus, the Italian artisan tradition of PEDINI S.p.A. to be appreciated and distributed all over the world.
By the end of January, the new Shareholder will complete and open a majestic showroom of over 1000 square meters, completely under the PEDINI brand, in the heart of Beijing, where the complete range with over 20 settings will be exhibited, and new and important ventures will follow.
On the occasion of this official press release, the Management of PEDINI S.p.A. takes the opportunity to thank all the Partners who have accompanied the Company with their contribution up to now, confident of being able to count on their valuable collaboration in the future.