March 13, 2018 / 7:45 AM / 7 days ago

Piquadro in talks with Richemont to buy Lancel

March 13 (Reuters) - Italian high-end briefcase maker Piquadro said on Tuesday it had started exclusive negotiations with luxury goods group Richemont for the potential acquisition of French leather goods maker Lancel.

The Italian company expects the acquisition of Lancel to be completed in the first half of the year, if the outcome of due diligence is positive and if the two companies reach a final agreement.

The acquisition of Lancel, which has undergone restructuring in recent years, would represent another step in Piquadro’s expansion plans which started with the acquisition of Tuscan leather goods maker The Bridge at the end of 2016. (Reporting by Silvia Recchimuzzi in Gdynia; editing by Jason Neely)

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