Coraline Gets Frette
By Staff -- Home Textiles Today, 12/5/2005
Milan, Italy —Nearly a year after signing a lease and licensing agreement with Coraline S.p.A., Frette has been acquired by the company, a subsidiary of San Francisco private equity firm JH Partners.
Terms of the deal were not disclosed. Frette was previously owned by Fin.Part Group, a holding company of Fin.Part S.p.A., which declared bankruptcy this past October.
The transaction includes the luxury linens retailer and wholesaler's operations and international subsidiaries. Frette markets luxury fabrics and linens to upscale retail and hospitality businesses around the world.
Under the deal, Coraline plans to expand the business and distribution of Frette products and receives exclusive rights to Frette's trademark. The agreement also contains a provision that will allow Coraline the option to acquire the Frette trademark.
