Mgm from Brescia announces the acquisition of the Rekord group, the leading European manufacturer of technical, sports and outdoor shoes. The operation is headed by the Foglio-Congiu family, active in the outdoor footwear market for four generations, founder of the historic Brixia shoe factory in 1911: in 1996 they took over the Mgm company, which today has its headquarters in Cavasagra di Vedelago, in the province of Treviso.
The details of the operation
The new group that was born from the integration of Mgm and Rekord – of which the Foglio-Congiu family will hold the majority – aims to become the main European production center in the outdoor technical footwear segment, and expects to close 2022 with a turnover aggregate of around 90 million euros (strong growth compared to 2021).
The operation was carried out through a capital increase supported by Clessidra Capital Credit and the co-investors Sip, Smart Capital and Brixia Finanziaria, with the issue of a bond loan subscribed by Clessidra Capital Credit, Banca Ifis, Anthilia Capital Partners and the finance company Veneto Sviluppo.
The history of Mgm and Rekord
The history of Mgm began in 1982 with the development and production of sports footwear for major international brands: in 1999 a worldwide license agreement was finalized for the Fila brand for the production and marketing of Fila Skates inline and ice skates. Between 2002 and 2013, a long series of acquisitions of historic brands in the mountain and outdoor footwear segment was concluded: in the portfolio, in addition to Fila Skates, also Kayland, Trezeta, Brixia and Hypno. The Foglia-Congiu family took over 100% of the MGM share package in 2016.
Founded in 1994 by Alcide Giacometti, Rekord currently employs around 700 people and has 3 production plants (for a total of almost 20,000 square meters) located in the Alba Iulia area in Romania: it represents the leading European manufacturer of technical footwear for the ‘outdoor, a point of reference for the major international operators in the production of high-end shoes.
“We are enthusiastic about this operation – says Marco Foglio, CEO of the Mgm group – with which we want to bring the avant-garde know-how of four generations of footwear entrepreneurship to the service of Rekord with a proactive and avant-garde approach”. “With this operation – comments Alcide Giacometti instead – the company has chosen the path of financial and technological strengthening to meet the ever-increasing demand for services and to give space to new projects and the expansion of the clientele”.