Mandelli Group, an Italian manufacturer of apparel and accessories for both the motorcycle and bicycle markets, has acquired the fashionable bike and scooter clothing brand Tucano Urbano for an undisclosed sum.The deal was completed through buy-outs of a majority stake held by private equity investor Consilium since 2016, plus other minority shareholders.
Diego Sgorbati will remain as Tucano Urbano’s chief executive but Mandelli shoe-in Marco Biollo is to become company chairman.
Founded in 1999 and based in Milan, Tucano Urbano is expected to generate revenue exceeding £13m this year, servicing more than 1000 trade customers. In addition to its domestic success in Italy, the company has a presence throughout Europe, including France, Spain and the UK.