OVS to acquire homeware provider Kasanova

The Italian retail group OVS SpA (OVS) aims to strengthen its presence in the homeware segment, where its Upim chain is already active with the brand Croff. On Monday, OVS announced a binding offer for the complete acquisition of homeware provider Kasanova SpA. Speculation about such a transaction has been circulating since this summer.

Kasanova has a network of around 700 points of sale

Kasanova is a brand specialising in household products. It has high brand recognition, a strong presence and a loyal customer base in Italy. Its wide range consists mainly of own-brand products. The particular focus is on housewares and home textiles.

The brand has a network of around 700 points of sale. Of these, approximately 220 are directly operated and 280 are run by franchise partners. Additionally, Kasanova has 200 corner spaces in DIY stores.

OVS: aim of the acquisition is to strengthen the homeware segment

“The idea behind the acquisition is to strengthen the group's position in the homeware sector,” explained OVS. “This sector is characterised by high fragmentation and great resilience. The aim is to achieve a leading position at a national level in this market as well. Croff will benefit from Kasanova's valuable expertise in the home segment, while Kasanova will benefit from Croff's greater competence in the textile sector,” a statement read.

“The number and quality of Kasanova's stores can be further increased by finding optimal brand solutions within the entire OVS group network,” the group explained. The company will also “benefit from the expansion of the existing corners for household products, which are already located in approximately 150 Upim stores”.

Although Kasanova enjoys good demand, the company has long suffered from low profitability, OVS explained. This is mainly due to “excessive structural costs”. As a result, Kasanova had to apply for restructuring proceedings in October 2024. A turnaround plan was then initiated, which includes the closure of less profitable stores and generally aims to reduce costs and inefficiencies.

Acquisition plan to lead to a “significant improvement in Kasanova's financial structure”

According to OVS, Kasanova expects a turnover of just under 300 million euros for 2025, with a slightly positive earnings before interest, taxes, depreciation and amortisation (EBITDA). As part of the acquisition plan now presented, Kasanova's share capital is to be reduced to zero. OVS will then acquire 100 percent of the shares as part of a 15 million euro capital increase. This will lead to a “significant improvement in the financial structure,” the group explained. In addition, creditors are to waive claims totalling around 40 million euros upon OVS's entry. In this way, “a substantially balanced initial financial position” can be achieved at the beginning of 2026, the statement said.

The completion of the transaction is still subject to the fulfilment of several conditions by December 31. These include finalising the agreements with financial creditors; the successful completion of the ongoing restructuring proceedings; and the resolution of Kasanova's competent bodies on the planned capital reduction and subsequent capital increase. Furthermore, according to OVS, “no events or circumstances may occur that would lead to a deterioration of Kasanova's asset or economic situation compared to the situation on which the binding offer is based”.

This article was translated to English using an AI tool.

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