Italmobiliare has invested in Sidi Sport, the iconic Italian brand specializing in cycling and motorcycling footwear. As per the terms of the agreement, 100 percent of the capital of Sidi Sport S.r.l. will be taken over by Italmobiliare for €66 million, in addition to the net cash held by the company as of Aug. 31, 2022. The contract, Italmobiliare said in a statement, is subject to the completion of a corporate reorganization that includes the spin-off of certain properties. The execution of the contract is expected to take place in the fourth quarter of the year.
Sidi Sport, located in Maser, near Treviso, was founded in January 1960 by Dino Signori, who, at the age of 86, is also the current chairman. The company takes its name from Signori’s initials. Its shoes have been worn by famous professional cyclists to win important races, including world championships. Sidi Sport posted sales of nearly €38 million and EBITDA of around €7 million in 2021.
Investment holding company Italmobiliare, led by CEO Carlo Pesenti, manages a diversified portfolio of investments, with a net asset value of more than €2 billion and a focus on “Made in Italy” brands.
