MILAN — Furnishings, lighting and contract group Dexelance has set its sights on taking over luxury outdoor furniture-maker Roda.
On Wednesday, the Milan-based group said it signed a letter of intent to acquire a minority stake in Roda’s share capital, partly through the purchase of shares and partly through the subscription of a share capital increase. The injection is aimed at supporting new investments and starting a new phase of growth for Roda Group, which owns luxury outdoor furniture maker Roda.
Dexelance said that the letter of intent envisages it initially acquiring a minority stake in Roda’s share capital and in a second phase, Dexelance will acquire a majority of Roda through “specific buy and sell options.”
You May Also Like
In the 1990s, Roda was founded by Roberto Pompa, who sought “al fresco” areas as places to inhabit and enhance outdoor spaces. Roda is an acronym of the names of Pompa’s family — Ro for Roberto and his wife Rosaria, Da for their children Daniele and Davide. In 2005, the late Italian designer Rodolfo Dordoni was welcomed into the team as artistic director.
Dexelance, which recently changed its name from Italian Design Brands, reported revenues up 4.3 percent to 324 million euros in 2024.
Dexelance chief executive officer Andrea Sasso said Roda, a well known name in the outdoor furniture market, is an ideal complement to its growing portfolio.
“We are very happy to join with the Pompa family to accelerate the development of one of the most prestigious names in the international outdoor market, sharing not only their projects but also their values and a common strategic vision,” the CEO said.
Roda’s CEO Daniele Pompa said it sees Dexelance’s experience and support driving a new phase of “global expansion and consolidating” its “position as a leader in luxury outdoor furniture.”
Since its market listing in 2023, Dexelance has been focused on international expansion. In an interview with WWD in February, its managing director Giorgio Gobbi said the group was in talks with several potential acquisitions.
In October 2023, Dexelance opened its first U.S. flagship in New York City that hosts dedicated showrooms for Meridiani, Davide Groppi and — from May 2024 — Gervasoni. In the same year, it also bought a majority share in Turri, a luxury furniture business founded in 1925 in Carugo near Lake Como, and last year increased its stake to 100 percent in lighting firm Axolight.
