BasicNet to acquires Woolrich from L-Gam for €90m.

BasicNet, a brands holding company, agreed to acquires Woolrich, a producer of wool fabrics and outdoor clothing, from L-Gam, an investment fund, for €90m. “We are thrilled to welcome Woolrich into the BasicNet family. Woolrich is an extraordinary brand, with a history and identity that make it unique in the international outerwear landscape. It represents exactly the kind of cultural and authentic heritage we aim to preserve, enhance and relaunch. This is a perfectly coherent operation with our long-term vision, based on dynamic and responsible brand management. The acquisition comes in a complex economic context, but we are convinced that the strength of our model and the experience of our team will allow us to return the brand to growth," Lorenzo Boglione and Alessandro Boglione, BasicNet CEO.