Global buyout firm Advent International has hired long-time corporate executive, Marcello Bottoli, to be part of its operating partner programme, which is responsible for advising on the acquisition and development of portfolio companies.
Bottoli’s primary function will be to advise Advent on investment opportunities in the retail and consumer sectors, with a focus on branded consumer products, fashion and luxury goods.
Bottoli was president and chief executive officer of Samsonite Corporation, a US luggage maker, until January 2009. During his five year stint at the company, Bottoli was “responsible for the company’s financial turnaround and oversaw the successful sale of the firm for $1.7 billion,” according to a statement.
In July 2007, UK private equity firm CVC Capital acquired Samsonite for $1.7 billion including debt. As part of the deal, Samsonite's management team, including Bottoli, had remained with the company.
Bottoli’s broad range of contacts and experience in the retail and consumer sector will prove “valuable to [Advent] in further developing [Advent’s] global investment strategy in these sectors”, said Fred Wakeman, managing partner at Advent.
Bottoli currently holds board positions at International Flavours and Fragrances, a manufacturer of flavours and fragrances; True Religion Brand Jeans, a high fashion denim business; and at Pandora, a jewellery manufacturer.