Debt-ridden decorative lighting brand Fontana Arte has been bought by Italian home automation maker Nice for £2 million.
Nice bought 60 per cent of the share capital of FontanaArte, which was founded in 1932 by the architect Gio Ponti and has been managed since 1979 by Carlo Guglielmi, the owner of 100 per cent of its share capital. FontanaArte is a global brand that in recent years has become a major player in the contracts segment.
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