The transaction amount amounted to 3.17 million euros, the acquired share of the business is 80%. Also in the official message of Piquadro it is emphasized that the contract assumes the possibility of buying the remaining 20% in 2021–2023. The transaction is expected to be completed by the end of December 2016.

"The positioning of The Bridge brand will complement Piquadro's offer, as well as allow the group to combine resources in various areas, including distribution, production and finance," commented Marco Palmieri, President and CEO of Piquadro. He also expressed hope that this step will be the beginning of the expansion of the portfolio of brands in the segment of premium accessories.

Piquadro is an Italian company that specializes in the production of business and travel accessories: bags, suitcases and various leather goods. The company was founded in 1987 by entrepreneur Marco Palmieri. According to the latest published data, Piquadro completed the fiscal year on March 31 with a turnover of 69.31 million euros (+3.1%) and a net profit of 11.5 million.