The Biella, Italy-based company acquired Arte Tessile a month after taking over Lanificio Fratelli Cerruti.
Based in Busto Arsizio in the Lombardy region, Arte Tessile was founded in 1984 and specializes in patternmaking for jacquard and raschel textiles. Its acquisition will provide additional expertise to Piacenza.
Financial terms of the deal were not disclosed.
Vasiliy Piacenza, Gruppo Piacenza’s brand manager, touted the company’s secrecy toward its clients as among its values and anticipated plans to expand the Varese-based company’s portfolio to clients in the furniture and home decor sector.