Within the Target Sector, the Company plans to seek out a Target with an enterprise value (i.e. acquisition cost) of between €1.0 billion and €3.0 billion, that is based or has its main operations in, the European Economic Area, Switzerland and/or the UK, and that has a competitive market position and strong business fundamentals. In selecting a Target, the Company will consider the potential for Francesco Trapani, Marco Piana and the Board to provide additional strategic guidance and support to the Target’s management. Thanks to their background, profile and experience, Mr. Trapani, Mr. Piana and the Board are ideally positioned to become preferred partners for a Target’s shareholders and management.

Our Investments Guidelines*

Long – term attractivite sector trends

Ability to cater a global audience

Outstanding, committed management team

Strong cash flow generation

Solid competitive position with high entry barries

Strong client recognition and affection

Commitment to ESG practices

Leverage on digital selling platforms

Unique know-how in crafrsmanship, manufacturing technologies and R&D

Ability to expand product lines, geographical presence or to acquire competitors

The Target benefits from ongoing, long-term attractive sector trends, that the Company believes will continue over the medium term and that will allow for stable growth.

The Target has the ability to directly or indirectly cater to a global audience of consumers, regardless of location.

The Target is led by an outstanding management team, comprising one or more founders that are willing to remain in their respective roles after the Business Combination, thereby providing management and governance stability.

The Target operates in a business with strong profitability and cash flow generation.

The Target benefits from a solid competitive position, with high barriers to entry and/or that benefits from a clear first-mover advantage; or that has a high market share in large markets within Europe, with a leading or co-leading position and that is at the forefront of innovation (if a services provider).

The Target has strong client recognition and brand loyalty through clear and distinctive features, and with strong B2C business content.

The Target is committed to strong ESG practices.

The Target has unique or difficult-to-replicate intellectual property, such as know-how in craftsmanship, manufacturing technologies, and research and development capabilities.

The Target has both organic and inorganic growth potential, including by expanding product lines or geographical presence, or that is well-positioned, due to its size, profitability, availability of managerial resources and funding, to acquire one or more competitors and thereafter successfully integrate and benefit from consolidation synergies.

The Target has the ability to leverage digital selling platforms for future growth.

* These criteria are not intended to be exhaustive. Any evaluation relating to the merits of a particular Business Combination may be based on these general guidelines as well as other considerations, factors and criteria that the Directors and Officers may deem relevant. The Company will utilize certain criteria and guidelines to evaluate acquisition opportunities, although it may decide to enter into a Business Combination with a Target that does not meet one or more of these criteria and guidelines.