Italy’s Fabbrica Italiana Lapis ed Affini (FILA) has acquired 18.5 per cent stake in RR Group’s Writefine Products Pvt Ltd (WFPL), with the option to increase its stake up to 50 per cent, the company has disclosed in a statement. However, the deal value was not immediately known.
AZB & Partners advised FILA while Salonia & Associati acted as its international legal advisors. ANS Law Associates advised RR Group on the deal.
WFPL was formed after RR Group, an Indian manufacturer of stationery products, consolidated its operations. Writefine produces stationery products like pencils, pens & sketch pens, wax crayons, sharpeners, erasers, geometry boxes and mathematical instruments. The products are sold under RR Group’s flagship DOMS brand.
The deal with WFPL will allow FILA to establish a strong presence in India and other key emerging markets such as Sri Lanka and the Middle East.
“Partnering with a successful international player like FILA is a growth opportunity for our company and our brand,” said Santosh R. Raveshia, chief executive officer of WFPL.
“This agreement enables FILA to enter a high-growth emerging market, relying on the experience and the know-how of the RR Group,” said Massimo Candela, CEO of FILA. “In addition, through WFPL, FILA will be able to distribute products with the best quality/price ratio, thanks to a business strategy that has allowed the group to become a leader in branded products for the stationery,” he added.
Established in 1920 and managed by the Candela family since 1956, FILA is based in Pero (Milan, Italy). It produces and manages more than 20 categories of writing and drawing products through its five production facilities and 14 commercial offices worldwide. FILA products are sold under Giotto, Das, Dido, Pongo, Tratto, Lyra, Vinci and Mapita brands.