(Alliance News) - Gismondi 1754 Spa announced that it has signed a binding agreement to take over Hyperion Lab Srl, a leading high-end jewelry factory in Valenza, Italy.

Lacquisition allows the Gismondi 1754 group to continue an important process of consolidation

strategy, which began this year on the commercial side with the acquisition of Vendorafa S.r.l., as

communicated to the market on April 3, 2023, and to increase linternalization of production, thus placing

the group's brands safe from bullish speculations on production costs and thus ensuring the

maintenance of commercial competitiveness.

"The agreement sees the Gismondi 1754 group position itself, through Hyperion Lab, as a supplier of excellence in the creation of Italian jewelry. The acquisition will allow Hyperion Lab to develop its contract manufacturing business by increasing its portfolio of international clients," the company said.

Gismondi 1754 plans to use about 20 percent of Hyperion Lab's production capacity for its portfolio companies, leaving the remaining 80 percent for contract business.

"Finally, as was the case with the acquisition of Vendorafa, the transaction represents a strong identity statement for the Gismondi 1754 group, which is deeply rooted in enhancing and safeguarding the excellence of Italian manufacturing in the gold and jewelry sector."

Gismondi 1754's stock is unchanged at EUR4.00 per share.

By Giuseppe Fabio Ciccomascolo, Alliance News senior reporter

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