Luxury Hospitality Empire Grows: Twiga Acquired in Major Deal
The Italian luxury hospitality scene is abuzz with news of a major acquisition. Leonardo Maria Del Vecchio, heir to the Luxottica fortune, has snapped up the renowned Twiga brand and four prestigious locations from entrepreneur Flavio Briatore.
Through his family office, Lmdv Capital, Del Vecchio has secured Twiga Forte dei Marmi, Twiga Montecarlo, Twiga Baia Beniamin, and the iconic Billionaire building in Porto Cervo, which will be transformed into a Twiga outpost next year. This strategic move creates a formidable player in the high-end dining and entertainment landscape.
Building a Hospitality Powerhouse
The acquisition is being orchestrated through Triple Sea Food, a Del Vecchio venture that has already made its mark with acclaimed Milanese establishments Vesta, Casa Fiori Chiari, and La Trattoria del Ciumbia. With this latest purchase, Lmdv Capital aims to solidify its position as “a leading Italian company in luxury hospitality” boasting iconic brands, a projected €50 million turnover, and a team of 600 employees.
Twiga, the group’s flagship brand, was born in Versilia in 2000 and has since become a global phenomenon synonymous with high-energy nightlife, exquisite cuisine, and a chic, exclusive atmosphere.
The transaction is expected to be finalized in the first quarter of 2025.
A Mutually Beneficial Transition
Del Vecchio’s attractive offer also secured the buy-in of Briatore’s minority partner, Dimitri Kunz of Habsburg, who held 33% of Twiga in Versilia. Kunz is the companion of Daniela Santanchè, Italy’s Minister of Tourism.
“We are proud to have created one of the largest restaurant groups in Italy, consolidating a winning model that combines haute cuisine, entertainment and exclusive design,” comments Del Vecchio.
Briatore expressed his satisfaction with entrusting Twiga to “a dynamic and innovative group like Triple Sea Food”. He confirmed that his decision to pursue the sale stemmed from his increasing focus on Formula 1, where he serves as an advisor to Alpine, part of the Renault group.
Beyond the Transaction: A Legacy Under Scrutiny
Del Vecchio’s business ventures are taking place against the backdrop of an ongoing legal battle in Milan. He is facing allegations of involvement in a criminal conspiracy aimed at obtaining unauthorized access to personal information.
Prosecutors allege that Del Vecchio sought the assistance of Equalize, a company specializing in digital investigations, to gather compromising information on family members during a high-stakes inheritance dispute. There were also accusations that he attempted to install spyware on his girlfriend Jessica Serfaty’s cell phone.
Del Vecchio has vehemently denied these charges through his legal representatives.
How will the acquisition of the Twiga brand impact the existing portfolio of Triple Sea Food and its presence in the Milanese market?
## Expanding Empire: Leonardo Maria Del Vecchio Talks Twiga Acquisition
**Interviewer:** Leonardo Maria Del Vecchio, welcome. Your latest acquisition, the Twiga brand, is making waves in the luxury hospitality world. Can you tell us what drew you to this iconic Italian brand?
**Del Vecchio:** Thank you. Twiga is synonymous with high-end dining and entertainment. Its locations are legendary, from Forte dei Marmi to Monte Carlo. It perfectly complements our existing portfolio through Triple Sea Food, which already includes acclaimed Milanese establishments like Vesta and Casa Fiori Chiari.
**Interviewer:** This purchase encompasses four prime locations, including the iconic Billionaire building in Porto Cervo which will be transformed into a Twiga outpost. Can you elaborate on your vision for these properties moving forward?
**Del Vecchio:** Our goal is to create a truly formidable presence in the high-end hospitality space. We are committed to preserving the unique character and allure of each Twiga location while enhancing their offerings and experiences. The Billionaire building, for example, presents a fantastic opportunity to expand the Twiga brand into a new dimension.
**Interviewer:** This acquisition seems to be a major step towards establishing Lmdv Capital as a leader in the Italian luxury hospitality market. What are your long-term goals for this venture?
**Del Vecchio:** Absolutely. This acquisition strengthens our position, putting us on track to reach our goal of €50 million in turnover and a team of 600 employees. We aim to create a collection of iconic brands that offer unparalleled experiences to discerning clientele. This is just the beginning for us.
**Interviewer:** Thank you for your insights, Leonardo. The future of Twiga, and indeed Italian luxury hospitality, looks very bright.
