Hi Fabrique Group acquires Tessitura Monti India

20 Mar 2023 , 01:40 AM

Hi Fabrique Group, a company based in Bangalore that specializes in producing luxury cotton fabric, has acquired Tessitura Monti India Private Limited (TMIPL). 

TMIPL is an Indian subsidiary of an Italian company called Tessitura Monti Spa, which had full ownership of TMIPL. The acquisition price has not been disclosed. TMIPL’s operations encompass the spinning, weaving, and treatment of textiles.

Singhvi Dev & Unni LLP served as the exclusive financial advisor for the deal, representing the Hi Fabrique Group. Their role was to guarantee a smooth and efficient completion of the transaction, which spanned across various locations.

According to a statement released by the company, the Monti group was founded in Italy in 1911 and is presently regarded as the preeminent producer of top-quality, refined cotton fabric with high value in the global market. Their clientele is made up of over 1,500 customers, with whom they have cultivated long-term relationships.

Tessitura Monti India Pvt. Ltd. (TMIPL) established a facility in Kolhapur, Maharashtra, India.

Furthermore, the company added that Hi Fabrique Group holds a substantial portion of the market share in India’s upscale, yarn-dyed shirting fabrics sector. With the same management team now at the helm, they aim to expand the Monti India brand globally and improve its profitability.

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