Italian textiles producer Manteco buys Casentino Lane

Italian textiles producer Manteco buys Casentino Lane

Translated by

Nicola Mira

Published



Jan 11, 2024

Manteco has inked a major deal at the start of 2024. The Prato-based Italian textiles producer, founded in 1943, has acquired a 100% stake in Casentino Lane, a carding spinning specialist located in the Casentino region of Tuscany, a national park and UNESCO World Heritage site, renowned for wool production since the 14th century.

Franco Mantellassi with his sons Marco (left) and Matteo

“We are extremely proud to be able to preserve this long-standing, ultra-specialised carding spinning factory, one we have worked in partnership with for many years, and with which we have – right from the start – shared the same passion for innovation and research, always putting sustainability and a circular approach centre-stage,” said Matteo Mantellassi, joint CEO of Manteco.

The acquisition, as a result of which Casentino Lane’s 27 skilled workers will retain their jobs, enables Manteco to realise in-house a key stage of its fabric production. Casentino Lane will guarantee Manteco an annual yarn output of approximately 700,000 kg.

“We have concluded a highly significant operation that puts at our disposal a top-notch supplier, but this is only the first step. The factory – which extends over more than 4,000 square metres – will be the object of major investments in terms of sustainability and innovation,” said Marco Mantellassi, joint CEO of Manteco.

In 2022, Manteco reported a revenue of €97 million, up 18% over the previous year, and higher than its revenue in 2019, before the pandemic. The company generates some 80% of its business outside Italy, notably in the rest of Europe (chiefly in France, Northern Europe, and Spain) and the USA.

Copyright © 2024 FashionNetwork.com All rights reserved.

Source link

post a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.