The OVS group has announced a new strategic step in the home segment with the acquisition of Kasanova Spa. The operation involves a capital increase of up to 15 million euros, through which OVS will acquire 100% of the company’s share capital. The initiative consolidates the presence of OVS in a sector already present with the Croff brand, owned by Upim, and aims to build a national reference point in the homeware sector, characterized by strong fragmentation and stability over time. On Piazza Affari, OVS capitalizes over 1 billion euros and in the last 12 months has recorded a total return of 53% for shareholders.
Kasanova, a network of 700 points of sale
Kasanova is a historic brand in the sale of household products, with a widespread network of approximately 700 points of sale distributed throughout the national territory. Of these, 220 are directly managed, 280 in franchising and around 200 corners inside specialized DIY stores. The company, founded and developed in Italy, stands out for an offering based on own-brand products, particularly in the household and home textiles segments, and for a loyal customer base.
In 2025, sales forecasts stand at a value just under 300 million euros. Despite good commercial performance, Kasanova has suffered from low profitability in recent years, mainly due to high structural costs. In 2024, the company launched the negotiated settlement procedure of the crisis and a reorganization plan aimed at closing the least profitable stores and reducing inefficiencies.
The synergies with Croff and Upim
OVS aims to integrate Kasanova within its network to strengthen its leadership in the home sector. According to an official note, “Croff will be able to take advantage of Kasanova’s strong know-how in the living segment, while Kasanova will benefit from Croff’s expertise in textiles”.
The objective is to enhance the Kasanova stores through a rationalization of the signs and the extension of the corners dedicated to household products already present in the 150 full format Upim stores. Furthermore, Ovs’ expertise in product sourcing, back-office management and relationships with major property owners will allow it to create operational and commercial synergies, improving the group’s overall profitability.
The financial details of the operation
Following the write-off of Kasanova’s share capital due to losses, OVS will acquire total control through a reserved capital increase of 15 million euros. The entry of OVS will also allow an improvement in the financial structure, thanks to creditors’ waivers of around 40 million euros, conditional on the completion of the operation.
These measures will lead, according to the business plan, to a balanced financial position for Kasanova at the beginning of 2026. The investment will be entirely financed through the credit lines already available to OVS, without significant impact on the group’s indebtedness.
The stages of closing
Completion of the acquisition is subject to certain operational and legal conditions. By 31 December 2025 the following must be completed:
- final agreements with financial creditors;
- the conclusion of the negotiated settlement procedure;
- the resolution of the reserved capital increase by the competent bodies of Kasanova;
- verification of the absence of events that compromise the financial or economic situation of the company.
The closing will take place once all the required authorizations have been obtained and the conditions precedent have been verified, presumably in the first months of 2026.
