/C O R R E C T I O N -- Progold S.p.A./
In the news release, PROGOLD ACQUIRES ABI MANUFACTURING INTERNATIONAL LTD, issued 29-May-2025 by Progold S.p.A. over PR Newswire, we are advised by the company that the photo caption should read "From left to right: CEO di ABI Nongluck Julsuwan, CEO di Progold Gemma Michelin, founder di ABI Gary Ford, COO Noppadon Niwattannan." rather than "From left to right: CEO di ABI Nongluck Julsuwan, Deputy CEO di Progold Damiano Zito / CEO di Progold, Gemma Michelin fondatore di ABI Gary Ford, COO Noppadon Niwattannan." as originally issued inadvertently. The complete, corrected release follows:
PROGOLD ACQUIRES ABI MANUFACTURING INTERNATIONAL LTDA new phase of strategic expansion in Asia
VICENZA, Italy, May 30, 2025 /PRNewswire/ -- Progold S.p.A., an Italian company based in Trissino (Vicenza) and a global leader in the development and production of precious metal alloys and advanced additive technologies for the jewellery industry, announces the acquisition of 100% of the share capital of ABI Manufacturing International Ltd, a Bangkok-based company operating in the same sector.
This transaction marks a key strategic step for Progold, strengthening its presence in the high-potential region of Asia, with the goal of consolidating the Group's global leadership in the field of precious metal alloys and additive technologies for jewellery manufacturing.
The acquisition aims not only to reinforce Progold's commercial presence in the Asian market but also to enhance strategic relationships with leading Asian players in the industry, accelerating the implementation of the Group's industrial plans and opening up new growth opportunities.
ABI Manufacturing International Ltd, a historic U.S. brand founded by Gary Ford, will continue to operate under its own brand and organizational structure, benefiting from integration with Progold's technological expertise, financial resources, and innovative capabilities. Operational management will remain under the leadership of current CEO Nongluck Julsuwan and COO Noppadon Niwattannan, ensuring strategic continuity. The Board of Directors will be expanded to include Damiano Zito, President and CEO of Progold, Gemma Michelin, Deputy CEO of Progold, and Thomas Hammershøy Nyborg, Board Member of Progold.
The acquisition has been actively supported by LBO France, a pioneer in private equity in France and a multi-specialist, multi-country investment platform. Active in the sectors of Private Equity, Real Estate, Venture Capital, and listed markets, LBO France has in recent years expanded its activity across Europe—particularly in Italy through Polis SGR—and into Africa via its subsidiary CGF Bourse. LBO France is one of the founding member of the international climate initiative and one of the first signatories of the France Invest Gender Equality Charter. Since December 2021, Progold S.p.A. has been backed by LBO France through the Small Caps Opportunities fund.
With this transaction, Progold S.p.A. takes a decisive step in its international growth journey, combining strategic vision, industrial excellence, and technological innovation.
Advisors involved in the transaction:
Chandler Mori Hamada Limited
PWC
Tilleke & Gibbins
Greenberg Glusker LLP
Advant NCTM
Kroll Associates S.r.l.
Ramboll Italy S.r.l.
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SOURCE Progold S.p.A.