A Chinese consortium, co-led by billionaire Ding Shizhong, chairman of Anta Sports Products Ltd., has bought 163-year-old Italian luxury linen maker Frette for about €200 million ($214 million), according to a person familiar with the matter.
Ding participated in the deal via a personal investment vehicle, which is not related to the Hong Kong-listed Anta Sports, said the person. The consortium also includes Hong Kong businesswoman Adrienne Marie Ma, the former president of Joyce Boutique Group Ltd., the person said, who asked not to be identified discussing private information.
Change Capital Partners, the private equity firm founded by former Marks & Spencer Group Plc Chairman Luc Vandevelde, said in a statement Wednesday that the firm has sold its 100% interest in Frette to Raza Heritage Holdings, a “consortium of strategic and private equity investors in the consumer segment”, and did not disclose the price.
Frette boutique at Bal Harbour Shops
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