Summary: • BasicNet has announced the acquisition of Woolrich's European operations and brand rights for €40 million as part of a €90 million enterprise value deal. • The acquisition adds the historic American outerwear brand to BasicNet's portfolio, which already includes Kappa, Superga, K-Way, Sebago, Robe di Kappa and Briko. • BasicNet and Woolrich leadership say the deal will strengthen Woolrich's heritage, identity and global presence despite challenging economic conditions.

This week, Turin-based BasicNet group announced it has reached an agreement to acquire Woolrich, the historic American brand founded in 1830. The Italian firm is acquiring Woolrich from L-Gam, an investment fund established in 2013 with the support of the Royal Family of Liechtenstein and families from Euro

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