Italmobiliare, an investment manager, completed the acquisition of a 60% stake in Officina Profumo Farmaceutica di Santa Maria Novella, a luxury cosmetics and perfumes manufacturer, for $146m. "We now take responsibility for the history of a firm with deep Florentine roots that represents Made in Italy throughout the world. Italmobiliare is committed to preserving the authenticity of the product range, while developing further the value generated by the company, not only for its shareholders and employees, but also for Florence itself, which has managed over the years to preserve and develop such a special and prestigious business. Florence and Santa Maria Novella are names echoing around the world the best of Italy and the reasons for it is loved: beauty, the Renaissance and outstanding craftsmanship. Italmobiliare - whose mission includes development, internationalisation and innovation, with the promotion of Made in Italy in its DNA - recognises the role of Officina Profumo Farmaceutica di Santa Maria Novella as an excellent player in this process," Carlo Pesenti, Italmobiliare CEO.