MILAN, May 10 (Class Editori) — The Lombard company Former S.r.l. will become part of the Chinese furniture giant OPPEIN Home. The Cantù-based company, founded in 1967, will be acquired by the Chinese Group for 4.6 million euros. This is the first acquisition by a Chinese company in Italy for months. OPPEIN Home has been assisted by D'Andrea & Partner Legal Counsel.
Founded in 1994, the company is now listed on the stock exchange and has been recognized as the world's largest furniture manufacturer. Its production ranges from furniture for the living to the sleeping area, including kitchens, closets and accessories. The Group boasts a turnover of about 20 billion yuan and more than 7,000 stores worldwide, located in more than 2,800 cities. Since 2016, it has also been active in the Italian market.
Former S.r.l was founded in 1967 in Cantù. These are the years in which Italian design established itself and the company immediately positioned as a forerunner. It finds its roots in a handicraft experience matured since the beginning of 1900, preserved in a production on an industrial scale. Former S.r.l. thinks according to a logic of modular systems, combining technology and beauty, excellence of materials and research.
With its new 2010 entrepreneurial structure, the company strengthened its presence in emerging markets, in the Middle East and in major European cities, for both residential and contract sectors. The acquisition of Busnelli — a leader in upholstered furniture in 2017 — marked the evolution towards a global vision of the home, as explained on the company's website.
(Source:Class Editori)
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