HH Global snaps up Italian luxury marketing firm
Tuesday, March 5, 2019
HH Global has made further inroads on its international expansion with the “multimillion” euro acquisition of Italian print management and brand marketing company Alecom.
Based in headquarters at Bregnano, Italy, luxury brand specialist Alecom was snapped up by HH Global in a deal that completed on 28 February after 12 months of discussions between the two businesses. Acquisitive HH Global will seek to make the most of Alecom’s presence in Italy, as well as France and Switzerland, while using its own global network to expand its new subsidiary worldwide.
In the acquisition, HH Global will take 100% ownership of Alecom, which includes Alecom Atelier, Alecom Creates Print, Alecom Agenzia. All staff will make the transition, with Alecom’s management team, including chief executive Alessandro Rampoldi, still onboard.
Robert MacMillan, global chief executive for HH Global, said: “This is a multimillion deal that sees us take on a company whose good reputation we have been aware of for a long time.
“Our business is organically growing very quickly, and we already have an exceptional footprint in Italy, but this will add real growth and increase volume in the territory, as well as France and Switzerland. What impressed us most was that the people at Alecom were very open and had built up a very strong business within the luxury sector.
“We see this as an opportunity to grow alongside our clients and theirs, allowing us to build and develop new and existing relationships. Every way we looked at this deal, it felt like the best choice for all parties.”
Established in 2000, Alecom manages the print and marketing services for corporate and luxury brands such as Boiron, Dior, Hermes, Cartier and Tag Heuer. Like HH Global, it has no in-house printing capabilities of its own.
MacMillan said a decision was yet to be made on whether Alecom and its own subsidiary would retain their own branding or be subsumed into the wider HH Global group.
In the coming year, MacMillan said his company was still “actively looking for the right type of businesses” to continue its acquisitive streak. In early February, HH Global acquired a majority stake in buy-and-build venture Veriteva, bringing Lateral Group founder Nick Dixon back into the print sector.
HH Global has $500m (£380m) in spend under management and employs more than 1,000 people across 44 territories around the world.