December 1, 2021
Brazilian footwear company Arezzo&Co said Tuesday that it had agreed to buy local women's fashion brand Carol Bassi for BRL180 million ($31.9 million), according to a securities filing.
Arezzo subsidiary ZZAB Comércio de Calçados will pay BRL50 million upon closing the transaction, followed by regular installments for BRL130 million over three years, the São Paulo-based shoemaker said in a securities filing. ZZAB could pay another BRL40 million if Carol Bassi meets targets from 2022 to 2025,
Brazilian footwear company agrees to pay $32 mln in cash and shares for Carol Bassi