Daido Limited has made Pontetorto S.p.A. of Italy a subsidiary by acquiring 65% of its share.
Pontetorto manufactures and sells a wide variety of fabrics for highly fashionable women’s wear, as well as high-quality, high-function fleece and materials for outdoor wear and sportswear. Daidoh decided to acquire Pontetorto because it has a strong sales base in Europe and also sells to Eastern Europe, the U.S. and Asia.
By making Pontetorto a subsidiary, Daidoh will be able to obtain more customers by handling materials for women’s wear and sportswear, in addition to its core business in men’s fabrics and products. The company intends to aggressively expand overseas business in fabrics, products and retailing.
Daidoh plans to make Pontetorto a wholly owned subsidiary within the next 4 years by acquiring the remaining shares.