Arezzo acquires local fashion brand

Arezzo acquires local fashion brand

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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,

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