Neuberger Berman to Acquire Bruno Magli
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Neuberger Berman to Acquire Bruno Magli

bruno nf2Marquee Brands, a portfolio company of Neuberger Berman Private Equity, a business unit of investment manager Neuberger Berman, has signed an agreement to acquire the Bruno Magli brand and related intellectual property assets from Bruno Magli SpA.  The transaction is expected to close sometime in the first quarter of 2015.

This is the first acquisition for Marquee Brands which was formed as a brand acquisition, licensing and development company by Neuberger Berman Private Equity in September 2014. Marquee Brands is headquartered in New York and is led by Michael DeVirgilio, President and Cory Baker, Chief Operating Officer (www.marqueebrands.com).

“Rarely do brands with the stature of Bruno Magli become available with an untapped opportunity to market, expand and grow into a lifestyle brand. We have a thorough brand strategy already created that will allow it to naturally develop into new categories,” said Mr. Baker.  “Bruno Magli is the epitome of luxury and we are excited for this to be our first jewel in the crown of a growing portfolio.”

Founded in 1936, Bruno Magli is among the original Italian luxury brands. The brand has produced fashion footwear for a global consumer base including celebrities and royals throughout its nearly eighty years.  Bruno Magli’s corporate office will be based out of the New York headquarters of Marquee Brands.  Keeping in line with Marquee’s investment thesis, the design and manufacturing of Bruno Magli’s core footwear and leather products will continue in Italy (www.brunomagli.com).

“Marquee Brands was created to acquire and grow high quality brands through product and geographic expansion. Bruno Magli is one of the most revered Italian legacy brands. We have already begun to secure partnerships in new categories with true best-in-class partners for growth at better retailers across the globe,” said Mr. DeVirgilio.

maruee brandsMarquee Brands continues to seek acquisition of other high-quality brands.  “Similar to Bruno Magli, we will seek to acquire brands which we can grow through our global footprint across 17 countries, relationships with best-in class partners and the management expertise of Michael and Cory. We look forward to building long-term value for Bruno Magli and other leading brands as we move forward,” said Zachary Sigel, Principal of Neuberger Berman and Director of Marquee Brands, who is responsible for brand acquisitions for the Company.

Legal services for Marquee Brands was provided by the Milan office of Cleary Gottlieb (www.cgsh.com) and financial and consulting services were provided by the Bologna office of Studio Gnudi (www.studiognudi.it).

Neuberger Berman, founded in 1939, is a private, independent, employee-owned investment manager. The firm manages equities, fixed income, private equity and hedge fund portfolios for institutions and advisors worldwide. Neuberger Berman managed $247 billion in client assets as of September 30, 2014. The firm has offices in 17 countries and is headquartered in New York (www.nb.com).

© 2015 PEPD • Private Equity’s Leading News Magazine • 1-13-15

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