Burberry Group plc (LSE:BRBY) signed the binding framework agreement to acquire Business unit in Turin from Pattern S.p.A. (BIT:PTR) for ?21 million on March 28, 2023. As at December 31, 2022, the business unit generated revenues equal to ?25 million with an Ebitda of ?3.7 million. The acquisition includes employees, equipment and inventory. The newly acquired operations will remain at the current site in Turin. Pattern will continue to operate the parts of the business not included in the transaction. Around 70 of Pattern?s employees in Turin will join Burberry on completion of the acquisition. The transaction is expected to close in September. Pietro Bernasconi of Studio Professionale Associato a Baker & McKenzie acted as legal advisor to Burberry Group plc (LSE:BRBY).

Burberry Group plc (LSE:BRBY) completed the acquisition of Business unit in Turin from Pattern S.p.A. (BIT:PTR) on October 2, 2023.