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🇧🇷 Brazilian shoe company Arezzo acquired 65% of Italian shoemaker Paris Texas in a move that cost it $26.5M but rallied its own stock by over 3%, making it one of the top gainers on Brazil’s stock index this week. This is Arezzo’s first international acquisition, and leaves the door open for the company to expand its Paris Texas ownership stake to 100% if it so desires at a later stage.
Latinometrics: With over 450 locations across 180 municipalities in all Brazilian states, Arezzo is the largest women’s shoemaker in Latin America. The company was founded in 1972 and has aspired for years now to expand internationally.
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