Lighting brand FontanaArte has been sold to a private finance company, continuing the consolidation of the Italian furniture industry.
Italian Creation Group purchased 100 per cent of FontanaArte and will take over the directorship of the brand.
FontanaArte joins the company's growing portfolio of Italian design brands, which also includes Driade and Valcucine.
FontanaArte's products include the Pinecone light by Paola Navone
According to business news site ItalyEurope24, the buyout continues Italian Creation Group's strategy to become a large holding company for Italian design brands covering the spectrum of home furnishings.
The group purchased furniture brand Driade, rescuing it from bankruptcy, in 2013, and followed with acquisitions of kitchen manufacturers Valcucine and bathroom brand Toscoquattro. Italian Creation Group was founded in 2013 by Giovanni Perissinotto and Stefano Core, who will now also take the helm of FontanaArte.
The lighting brand has been in business since 1932, when Gio Ponti ? art director of Luigi Fontana ? invited Pietro Chiesa to join him in leading the brand's evolution into FontanaArte.
It has been owned since 2010 by Nice Spa, a home automation company based in the Italian town of Oderzo.

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