Veronafiere Buys Brazil Stone Shows
VERONA, Italy – The producers of the Marmomacc stone trade event reached across the Atlantic today to buy controlling interest in Brazil’s two top stone shows.
Veronafiere announced the acquisition of 60 percent of Milanez & Milaneze, the Serra, Brazil-based producer of the Vitória Stone Fair and Cachoeiro Stone Fair. Veronafiere will pay €2.7 million ($3.47 million) for the majority share, with an option to acquire the rest.
Click photo to enlargeOfficials of Veronafiere and a Brazilian delegation led by Renato Casagrande, governor of the Brazilian state of Espirito Santo – the home of both the Vitória and Cachoeiro events – announced the agreement during a presentation today at this year’s Marmomacc event.
“Today is an important step,” said Casagrande, “because it is a new bridge between Brazil and Italy, and the districts of stone of the State of Espirito Santo and Veneto. It combines the most-important fairs of the Brazilian industry to an international partner of first level, VeronaFiere; and, with its overview, it is the right integration for further development of the entire stone industry. “
“With this initiative,” said Ettore Riello, Veronafiere president, “which is part of a strategy of increasing internationalization, Veronafiere continues to support the development of an industrial policy of the country system in which trade can be used as promotional tool for companies abroad and the excellence of ‘Made in Italy.’
“The new Brazilian stone market is thus added to those already long manned by Marmomacc World Tour, such as the United States, Saudi Arabia, Qatar, not to mention the latest made by Egypt and Morocco. “
Brazil is the world’s third largest exporter of granite; half of national production is concentrated in Espirito Santo, which also produces 65 percent of exports including 1.5 million metric tons of blocks and slabs.
The Vitória event drew 23,000 visitors and 420 exhibitors in February, while the August fair in Cachoeiro Stone Fair attracted 25,000+ attendees and 220 exhibitors, according to Milanez & Milaneze reports.
Acquiring the controlling stake in Milanez & Milaneze also gives Veronafiere the reins of the MEC Show, an annual July event for Brazilian engineering, automation and energy that drew 17,000 attendees this year.
“Today’s agreement is fundamental to our growth and that of our customers, but its strong strategic value goes much further,” said Giovanni Mantovani, Veronafiere director general, “both because it opens an operating platform and distribution in Brazil and throughout South America, and because it provides our input in a third event, the MED Show, which represents areas where we are moving with great interest. “
Although known mainly for the Marmomacc stone event, Veronafiere produces other major events, including Vinitaly every April and the SaMoTer construction-equipment show in February.
In order to create a new co-Veronafiere do Brazil subsidiary, VeronaFiere has already started contacts with SACE and SIMEST — Italy’s export-credit and foreign-investment agencies.) and SIMEST for partnership input.
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