Deal includes the Mascioni Hotel Collection hospitality brand
Standard Textile Co. has acquired the hospitality business of one of the biggest names in Italian textiles.
Standard, a global supplier to the hospitality and healthcare markets, has reached an agreement to acquire the global hospitality business of Mascioni SPA of Italy, including the Mascioni Hotel Collection brand.
The Mascioni Hotel Collection brand markets bedding, bath, table and spa products to luxury hotel properties worldwide. Terms of the deal were not disclosed.
Gary Heiman, president and CEO of Standard Textile said, "The Mascioni Hotel Collection brand embodies the notable craftsmanship and innovative artistry of Mascioni, one of Italy's leading textile design and finishing manufacturers. The Mascioni Hotel Collection broadens our brand portfolio to satisfy the characteristics and values of today's luxury hotel customer."
Francesco Russo, CEO of Mascioni, added, "Since Mascioni's founding in 1957, the company has gained a strong worldwide reputation for creating luxury quality linens. We believe Standard Textile's strong distribution network in North America and globally will accelerate the growth of the Mascioni hospitality business and the Mascioni Hotel Collection brand."
The deal includes a design and supply agreement with Mascioni SPA to provide Standard Textile an opportunity to manufacture products through Mascioni in Italy along with Standard Textile's global manufacturing infrastructure.
"This partnership and complete control of our entire supply chain allows us to innovate at each stage of the process, ensuring consistency in superior quality and service," said. Heiman. "The Mascioni Hotel Collection offers luxury properties the distinguished products desired by guests, supported by a robust global manufacturing and distribution network."
The Mascioni Hotel Collection will continue to operate as an independent brand with headquarters in Cincinnati, the headquarters for Standard Textile. The transaction is expected to close this month.
Standard Textile has also executed a license agreement with Mascioni SPA that provides Standard Textile the exclusive right to manufacture, market, and sell Mascioni branded products in the US consumer market.