Published on : Thursday, September 1, 2016
ItalianCreationGroup (ICG) has acquired the Milan-based lighting brand FontanaArte. Nice S.p.A. currently owns FontanaArte, but will transfer ownership to FontanaArte S.p.A., which will then be acquired by ICG.
The objective is to strengthen the brand’s presence in Italy and abroad, with ICG set to inject significant economic investment to realise the goal. Giovanni Perissinotto and Stefano Core, ICG’s president and CEO respectively, will be the new directors of FontanaArte, bringing their burgeoning managerial experience and know-how to the company table.
Founded in 1932 by Luigi Fontana and Gio Ponti, FontanaArte quickly became a significant player in residential lighting and glasswork. Throughout their eight-decade history, they have featured lighting fixtures by celebrated designers such as Piero Castiglioni, Pietro Chiesa, and Sergio Asti.
The FontanaArte deal is ICG’s third majority acquisition, after Valcucine (in 2015) and Driade (in 2013). CEO and founder Stefano Core proudly says, “I’m proud to welcome FontanaArte into ICG. They are a wonderful example of the Made in Italy brand. This step will surely lead to important new partnerships.”