Cerasarda joins Serenissima-Cir-Capri Group

Jul 10, 2002

Cerasarda joins Serenissima-Cir-Capri Group Casalgrande (RE), 10 July 2002 - Cerasarda, a joint stock company specialising in the production of glazed double fired tiles and hand decorated giftware, has changed ownership. The company has been sold to Società Ceramica C.I.R. Spa (Serenissima Group) based in Casalgrande (province of Reggio Emilia) by Meridiana Spa, which signed the preliminary sales document for 100% of Nova Immobiliare, holder of 87.7% of Cerasarda. The company's remaining stakes continue to be owned by Sigma Invest, which belongs to Sfirst, the Sardinian regional administration's holding company.
Meridiana stressed that the sale is subject to a commitment on the part of the Serenissima-Cir-Capri Group to assure the operative continuity of the company, its expansion and capitalisation of the "Cerasarda - La ceramica della Costa Smeralda" brand name.
Set up in 1963 as part of a project for integrated development of the Emerald Coast , Cerasarda went on to establish an important position in a niche market with a product type strongly associated with the shapes, symbols and colours of the Mediterranean, Sardinia in particular.
The Serenissima-Cir-Capri Group, which has specific know-how in the sector, has expressed its intention to capitalise and consolidate the Cerasarda brand name at an international level, while keeping on the company's 40 current employees. As the Serenissima Group's Chairman, Lamberto Romani , explained, "Our aim in this operation was to acquire a highly prestigious brand name which would bring our Group major benefits in terms of product diversification." The new business plan would be developed at the earliest opportunity. The sale agreement, Meridiana's managing director Giovanni Sebastiani explained, includes provision for commercial cooperation between Meridiana and the Serenissima Group. In a joint press release, Meridiana and Cir announced that operative and strategic continuity would be assured by the fact that Marcello Bedogni is to stay on as chairman of Cerasarda.