JH Partners Acquires La Perla
Bologna, Italy–based fine-lingerie company La Perla has a new owner. In July 2007, the San Francisco–based private-equity firm JH Partners LLC acquired a 70 percent stake in the Italian lingerie company. JH Partners LLC recently purchased the remaining 30 percent stake from Nute Partecipazioni SpA, the holding company owned by Alberto Masotti.
“This was another step in the process. Acquiring the final 30 percent is further confirmation of our enthusiasm in La Perla and confidence in its growth prospects. In the last year, we have made great strides to turn the company around, improving the efficiency of our operations and profitability of the business,” said Jeff Hansen, partner of JH Partners and managing director of La Perla, in a statement.
The La Perla brand is synonymous with luxury lingerie and a price tag that tops $200 for fashion bras. The company was founded in 1954 and continues to operate its brands from its origin in Bologna, though Masotti has chosen to retire from the family business after the sale’s conclusion.
JH Partners’ investment portfolio includes a variety of consumer brands in different industries, including AmeriMark, Design Within Reach, Jurlique skin care products and Bare Escentuals beauty products.
Shortly after the acquisition was announced, La Perla issued a statement saying it is cutting 365 jobs from its head office in Bologna. The job cuts are part of the new owner’s plans to restructure the company and launch it as a leading luxury brand.
—Rhea Cortado
