Montefiore Investment acquires a majority stake in Demenego, a historic Italian brand in the eyewear sector

Montefiore Investment, the reference Private Equity firm dedicated to service SMEs and mid-market companies, announces the signing of a binding agreement with Vam Investments regarding Demenego, a leading chain of specialized optical centers in North-East Italy.

Founded in 1960 by the De Menego family, the company was acquired by Vam Investments in 2020, with the simultaneous appointment of Alessandro Donadelli as the new CEO.

Thanks to Alessandro Donadelli’s extensive experience in the sector and the partnership with Vam Investments, the company has consolidated its presence in the Triveneto area and started to expand its commercial network to neighboring regions, increasing from 15 stores to 39 by December 2024. Alongside the geographical expansion, revenue has more than doubled, with a forecast above 40 million euros in 2024.

With the new partnership with Montefiore Investment, Demenego will continue to buid its success on its solid foundations, a business model combining a high-level healthcare with retail sales in its optical centers. All stores are equipped with state-of-the-art medical equipment to check, measure and correct vision. The product range, including prescription glasses and sunglasses, both private label and third-party brands, is driven by a strong focus on customers’ visual well-being.

Thanks to continued significant investments in digitalization, customization, technology, and the integration of all processes into interconnected systems, Demenego will continue to revolution the shopping experience with its Demenego Labs, present in all sales locations, that enable customers to follow the various stages of production of their glasses, which are completed in just one hour.

Montefiore Investment, recognized for its ability to transform regional companies into national leaders, will bring its skills and expertise to support and further transform Demenego into an innovative, omnichannel, and fast-growing eyewear specialist.

Alessandro Donadelli, CEO of Demenego, commented: “Demenego is a company rich in expertise, innovation, and a meticulous focus on its core value: “seeing well to live well.” Solid foundations have been laid for future successes. I would like to thank Vam Investments for their support and to welcome Montefiore Investment. With our new partner, which has reaffirmed its confidence by retaining our whole team, we have a new challenging and exciting plan to deliver to allow more and more people to see well to live well”.

Henri Topiol, Partner and Co-Head of Italy and Marie Londero, Executive Director of Montefiore Investment, commented: “We are excited to partner with all the team led by Alessandro, and look forward to contributing to the incredible journey of profitable growth that has been undertaken by Demenego. This investment marks a significant milestone in Montefiore’s expansion into the Italian market and highlights our ongoing commitment to supporting ambitious companies in their growth strategies. Demenego’s excellent and differentiated store concept combined with Montefiore’s know-how to accompany mid-market companies create the perfect partnership to further penetrate the Italian eyewear market and continue developing Demenego at a rapid path”.