Venerated boot company Sidi Sport has been sold to financial giant Italmobiliare, however U.S. Dealers don’t need to worry that Motonation has been given the boot. “Business as usual… if not better,” says Motonation President Bill Berroth. “From Motonation’s and Ciclista America’s perspective this sale is a good thing. Having recently signed a multi-year extension to our 22+ year distribution agreement the fresh changes that this group will be bringing to the Sidi will certainly reinvigorate and help grow the Sidi brand, both in the cycling and motorcycling sectors.”
“We sold the company to Italmobiliare, an investment holding company that manages a diversified portfolio of investments with a Net Asset Value of more than 2 billion euro,” explains founder Dino Signori. “Since 2017, Italmobiliare has consolidated its strategy of investing in companies with major innovative ‘Made in Italy’ brands, supporting significant rates of growth with its know-how and models of development and governance.” Italmobiliare adds, “Sidi Sport is an Italian success story as its founder, Dino Signori, has led the company to become a globally recognized leader in the production of cycling and motorcycling shoes, with a turnover of almost € 38 million in 2021 and EBITDA of around € 7 million.”
“I am proud of this deal which respects my history as an entrepreneur over the last 60 years,” says Signori. “It will ensure that the company can grow even stronger and more competitive. Italmobiliare — and CEO Carlo Pesenti who I have come to know and respect — will be able to give continuity to the values and ideas that I have always pursued, consolidating and strengthening Sidi’s traditions and products. I thank my family and all of our employees for their efforts that have allowed us to achieve such brilliant results.”