Pernigotti chocolates sold to Turkish group

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Pernigotti chocolates sold to Turkish group

Milan, July 11 - Pernigotti chocolates became the latest historical Italian brand to end up in foreign hands Thursday, sold to the Turkish Toksoz group. The 150-year-old chocolatier, famed for its 'gianduiotti' hazelnut-flavoured nuggets, has annual sales of around 75 million euros. Last week storied cashmere firm Loro Piana was swallowed up by the world's largest luxury group, LMVH. LVMH has acquired several iconic Italian brands over the years. Last month it purchased a majority share in Milan's historical Cova pastry-shop brand, based in the heart of the city's well-heeled fashion district. In 2011 it took over the luxury Italian fashion brand Bulgari. In the same year, fashion house Brioni went to France-based PPR and a controlling stake of Moncler was sold to French investment company Eurazeo. France is not the only foreign investor in iconic Italian fashion houses. In 2012 the Qatar royal family bought the Valentino Fashion Group (VFG) under its holding company Mayhoola for Investments Spc.

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