{"id":1503,"date":"2018-03-22T16:04:00","date_gmt":"2018-03-22T15:04:00","guid":{"rendered":"https:\/\/www.progressiosgr.it\/progressio-has-acquired-forest-save-the-duck\/"},"modified":"2025-12-02T12:41:34","modified_gmt":"2025-12-02T11:41:34","slug":"progressio-has-acquired-forest-save-the-duck","status":"publish","type":"post","link":"https:\/\/www.progressiosgr.it\/en\/news\/progressio-has-acquired-forest-save-the-duck\/","title":{"rendered":"Progressio has acquired Forest (Save the Duck)"},"content":{"rendered":"\n
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Milan, March 22, 2018. Progressio Investimenti III Fund has finalized the acquisition of a majority stake in Forest (the \u201cCompany\u201d), owner of the sportswear and outerwear premium brand Save the Duck. Progressio has teamed up with the entrepreneur Nicolas Bargi, shareholder of the Company and creator of the Save the Duck brand who will re-invest in the Company alongside Progressio.<\/p>\n <\/div>\n \n

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The Save the Duck brand was created in 2012 to offer a wide range of 100% animal-free quilted jackets for the clients appreciating a unique balance between quality\/style and affordability.<\/p>\n

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The Company reported an outstanding growth in the last years and is anchored on the fast growing entry to premium segment of the fashion industry. One of the Company key assets is the strong and qualitative wholesale distribution footprint: the Company serves a selected network of multi-brand high-end sportswear stores.<\/p>\n

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Save the Duck aims at being increasingly recognized as a brand with top quality products and strong storyline based on respect for animals and sustainability rooted in the DNA of the brand, targeting a very loyal customer base.<\/p>\n

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The joint growth strategy of Nicolas Bargi and Progressio envisages a strengthening and consolidation of the Company wholesale distribution network on international markets, the development of a retail network based on an innovative concept and the development of the online channel.<\/p>\n

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Filippo Gaggini, Managing Director of Progressio,<\/strong> said: \u201cWe are honored to invest in Save the Duck as first investment of the new fund Progressio Investimenti III because it represents exactly the kind of the target we will focus on: a clear Italian excellence, led by an outstanding entrepreneur, which demonstrated a unique growth potential and capability to continuously increase its international footprint. We will support Nicolas Bargi and his management team in the implementation of the ambitious development plan ahead, always maintaining a strong focus on the brand quality and sustainability key features\u201d.<\/em><\/p>\n

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Nicolas Bargi, Entrepreneur and Shareholder<\/strong>, said: \u201cI believe that, with Progressio as new strategic partner, we are on the right track to achieve incredible results and exploit the brand full potential given Progressio incredible track record and previous experience in the fashion industry. I\u2019m confident the Company will double its business in the next 2 to 3 years\u201d.<\/em><\/p>\n

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Marina Salamon, Shareholder,<\/strong> said: \u201cI\u2019m extremely satisfied with the agreement reached with Progressio and confident that the Company growth path will continue. I\u2019ll keep supporting the Company and Progressio initiative, being interested in Progressio Investimenti III investment focus and strategy\u201d.<\/em><\/p>\n

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The deal was conducted by Filippo Gaggini, Angelo Piero La Runa and Massimo Dan. Progressio was assisted by the lawyers Carlo Pappalettera, Filippo Grillo and Cecilia Cagnoni of Carnelutti Law Firm. Due diligence was conducted by EY (financial and business due diligence), Russo De Rosa Associati (tax and transaction structuring). The team of Banca IMI and Intesa (Matteo Zenari, Carlo Parmigiani, Giuseppe Sartorio, Thomas Sensolini, Miriam Aiello and Stefano Scantamburlo) assisted Progressio as Financial Advisors.<\/p>\n

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The sellers, Marina Salamon and Nicolas Bargi (who re-invested in the Company) have been assisted by Fineurop Soditic (Gilberto Baj Macario and Marcello Tedeschi), as a Financial Advisor, and by Linklaters Law Firm (Pietro Belloni and Carolina Gattai).<\/p>\n

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The acquisition was provided by Mediocredito Italiano, acting as arranger and agent bank, and Banca IFIS.<\/p>\n

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Progressio SGR S.p.A., established in 2005, is a private equity firm focused on Italian SMEs. It is an independent company, entirely owned by the management team and led by Filippo Gaggini (Managing Partner), Angelo Piero La Runa (Partner) and Nino Mascellaro (Partner). The investment strategy aims to invest in \u201chidden champions\u201d in market niches where Made in Italy is a competitive advantage in terms of know-how and market positioning. The goal is to support the portfolio companies in a value creation path through organic growth, M&A strategy and meanwhile strengthening the management organization.<\/p>\n

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Progressio has managed funds for over 400 million euros and completed 21 investments, of which 16 have already been realized. Among the successful investments made by the management team there are Moncler (luxury sportswear), Sanlorenzo (yachting industry), Chromavis (cosmetics specialist), Italchimici (branded generic pharmaceuticals and food supplements), Duplomatic (hydraulic sector components) and others.<\/p>\n

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The current portfolio companies of Progressio Investimenti II Fund are: Gens Aurea (jeweler-integrated player), Giorgetti (high-end furniture), ICF (chemical products for the footwear, automotive and packaging industry) and Garda Plast (production of preforms in P.E.T. for mineral water, soft drinks and detergents).<\/p>\n

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At the beginning of January 2018, Progressio has held the first close of Progressio Investimenti III Fund which is targeting a final fund size of 225 million euros and will continue its strategy of investing 25 to 30 million euros equity tickets in sectors of Italian \u201cexcellence\u201d, especially in the fashion & luxury, chemical & pharmaceuticals, industrials and food & beverage.<\/p>\n

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Over the last 24 months Progressio has realized 3 investments (Industrie Chimiche Forestali, Garda Plast and Save the Duck) and 2 successful exit (Duplomatic, sold to Alcedo Private Equity SGR, and Italchimici, sold to Recordati S.p.A.). Save the Duck is the first Investment of Progressio Investimenti III Fund.<\/p>\n <\/div>\n <\/div>\n \n

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“Progressio believes that Save the Duck is one of the brands with the highest growth potential among the fashion industry given his unique capability of developing stylish and sustainable innovative products”<\/blockquote>\n \n <\/div>\n <\/div>\n <\/section>\n","protected":false},"excerpt":{"rendered":"","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[15],"tags":[],"class_list":["post-1503","post","type-post","status-publish","format-standard","hentry","category-press"],"acf":[],"yoast_head":"\nProgressio has acquired Forest (Save the Duck) | Progressio SGR<\/title>\n<meta name=\"description\" content=\"Read \u201cProgressio has acquired Forest (Save the Duck)\u201d and stay up to date on the latest developments at Progressio SGR\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, 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