Argo Finanziaria, holding of the Gavio Group, has announced that they have signed a Letter of Intent with Ferretti SpA for the acquisition of Bertram Yachts – one of the most prestigious yachting brands in the United States and all over the world.
Luxury charter yacht Flying Tuna built by Bertram Yachts
The acquisition is expected to be finalized by 31 March 2015, following appropriate due diligence of Bertram’s assets, the definition of the conditions, guarantees, and commitments required for this type of transactions, and after obtaining all the necessary authorisations pursuant to the applicable laws and regulations.
Established by Richard Bertram in 1960, Bertam is a true icon of US yachting. It is the legendary brand of the famous Moppies, thousands of which were built between the 1960s and the 1990s. Bertram yachts have always been a synonym of performance, outstanding seaworthiness, reliability, excellence and style.
The acquisition of the Bertram brand follows the takeover by the Gavio Group of two other important yachting brands – Cantieri Cerri, in September 2011, and Baglietto, in February 2012. The latter is the symbol of international yachting and is currently the oldest Italian shipyard still in business.
By including Bertram into its yachting brand portfolio, the Group will further extend the range of boats it produces. It will also create a prestigious ‘hub’ in the luxury yachts segment, capable of creating strong synergies by sharing resources, optimizing costs, integrating sales networks, and further promoting its chances to successfully operate on the fast-growing US market.
“I am very pleased with this acquisition – declared Mr Beniamino Gavio, President of Argofin and Baglietto – Bertram is for sure the brand most similar to Baglietto as they share many common features: a family history characterized by legendary yachts; record broken and competitions won; a logo that, for both brands, is a symbol of freedom and strength (the eagle and the seagull); and a very strong national identity that goes hand in hand with far-reaching international fame.”
