01 Dec 2025

Law firms advising on De Agostini’s entry into Legami

"Gianni & Origoni advised Legami, founder Alberto Fassi and minority managers; ADVANT Nctm and KPMG advised De Agostini; Molinari advised Flexible Capital Fund (managed by DeA Capital Alternative Funds Sgr); BonelliErede assisted certain stakeholders; Studio VBM handled tax for the majority shareholder and Legami. De Agostini acquired the 42% stake in Legami held by Flexible Capital Fund."

Gianni & Origoni represented the majority shareholder, founder and CEO Alberto Fassi, Legami and other minority manager shareholders; ADVANT Nctm represented De Agostini; Molinari represented Flexible Capital Fund (managed by DeA Capital Alternative Funds Sgr); KPMG assisted De Agostini on due diligence; BonelliErede assisted certain stakeholders; Studio VBM handled tax matters for the majority shareholder and Legami. Notary Carlo Marchetti followed the notarial aspects. The transaction concerns De Agostini’s acquisition of a 42% stake in Legami, purchased from Flexible Capital Fund, a fund managed by DeA Capital Alternative Funds Sgr. Legami is a group active in stationery, gift items and lifestyle accessories. In 2024 the group reported revenues of EUR 245 million and an EBITDA above EUR 50 million. Its international presence has rapidly expanded, with distribution in over 70 countries, about 10,000 retailers, more than 600 corners and a direct retail network operating in Italy, France and Spain. For 2025 Legami forecasts revenues exceeding EUR 300 million and plans further direct retail openings, including 16 new boutiques in France and five in Spain, targeting a total of over 150 directly managed stores. Gianni & Origoni represented the majority shareholder Alberto Fassi, Legami and the minority manager shareholders with a team composed by: Alfredo D’Aniello (partner), Marco Rinaldi (counsel), Graziano Cucchi (senior associate), Federica Baldini (associate, corporate), Vittorio Del Vecchio (associate, corporate), Saverio Schiavone (partner, labor) and Eleonora Rainaldi (managing associate, labor). Studio VBM represented the majority shareholder and Legami on fiscal matters with a team composed by: Guido Fontana (associate). ADVANT Nctm represented De Agostini in the acquisition with a team composed by (M&A): Matteo Trapani (partner), Filippo Ughi (partner) and Luigi A. Stabile (senior associate); (Banking & Finance): Giovanni De Capitani (partner), Bianca Macrina (counsel) and Andrea Bertoni (senior associate); (Tax): Barbara Aloisi (partner) and Irene Aquili (counsel). KPMG represented De Agostini on due diligence with a team composed by: Alberto Vaccaro (partner, accounting and financial due diligence), Stefano Cervo (partner, tax due diligence), Alberto Cirillo (partner, legal due diligence) and Valeria Virzì (director, legal due diligence). Molinari represented Flexible Capital Fund (managed by DeA Capital Alternative Funds Sgr) with a team composed by: Margherita Santoiemma (partner), Andrea Cecchi (senior associate) and Beatrice Mattioni (associate); fiscal matters were handled by Ottavia Alfano (partner, tax). BonelliErede represented certain stakeholders involved in the transaction with a team composed by: Francesco Pirisi (partner). Notary Carlo Marchetti followed the notarial aspects with: Carlo Marchetti (notary).
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